How to use our Stamp Duty Calculator
Stamp Duty Land Tax is a tax which the buyer must pay when purchasing a home in England. The amount of tax due will depend on things like the purchase price and whether it is your first home or next home. Our Stamp Duty Calculator can be used to calculate exactly how much stamp duty you will have to pay for your property purchase.
How to use the Stamp Duty Calculator
To use our Stamp Duty Calculator, simply enter your info:
- Select which type of buyer you are (first time, buying next home, buying an additional property)
- Select your purchase date
- Enter the purchase price
Once you have entered your details the calculator will tell you how much Stamp Duty Land Tax you will incur with the purchase.
Note that it reflects the Stamp Duty Land Tax rates in England, where the tax applies.
First time buyer example 1
Let's take the example of a first time buyer purchasing a property for £300,000. The purchase will take place after April 1st 2025.
If we enter these details in the calculator, you will see that there is £0 to pay. This is because there is first time buyer relief, meaning the stamp duty is charged at 0% for the first £300,000 for first time buyers.
First time buyer example 2
Let's look at another first time buyer, in this example they will be purchasing a property for £550,000. The purchase will take place after April 1st 2025.
When we run the calculator, we see that there is £17,500 to pay. For first time buyers, the relief only applies on properties up to £500,000. Any property over this price will incur the normal Stamp Duty Land Tax with no first time buyer relief.
Example 3
For this example, we'll see how much Stamp Duty Land Tax will be incurred for a purchase price of £300,000 for someone buying their next home. The purchase will take place after April 1st 2025.
The calculator shows us that they will have £5,000 to pay in stamp duty. Despite being the same purchase price as in the first example, because they are not first time buyers there is no relief applied.
Summary
We've seen that Stamp Duty Land Tax varies depending on the circumstances of the purchaser. The rates are often subject to change by the government, usually announced in the annual budget. Use our Stamp Duty Calculator to find out how much you could incur for your property purchase.
This does not constitute financial advice. Always do your own research.