Wondering how much stamp duty you need to pay on a new home? Well, it depends on the value of the property. Here’s a simple guide.
When you buy a home in the UK, the government will charge a tax. In England and Northern Ireland this charge is called Stamp Duty Land Tax (SDLT).
The amount you pay is dependent on the value of the property you purchase and when you choose to buy it.
The amount you pay depends on the value of the home you purchase. You’ll pay SDLT rates on the part of the property price within each tax band, as shown in this table.
|
Purchase price |
Stamp Duty to pay |
| £300,000 and under | 0% |
| £300,001 - £500,000 | 5% after the first £300,000 |
| Above £500,000 | Standard Stamp Duty rates apply |
For full eligibility details, take a look at this guidance from HM Treasury.
Within 14 days of completion, you will need to send an SDLT return to HMRC and pay the tax within 14 days of completion.
Your solicitor will usually do this for you on the day of completion and add the amount to their fees.
Alternatively, you can file a return and pay the tax yourself.
| Property value | Stamp duty to pay |
| Up to £125,000 | Zero |
| The next £125,000 (the portion from £125,001 to £250,000) | 2% |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| The remaining amount (the portion above £1.5 million) | 12% |
Read our buyer guide
The legal steps of buying a home
Learn more about the legal steps of buying a new home with our buyer guide.
Read our buyer guide
How to sell your property
Need some help selling your property? Read our guide here.
Read our buyer guide
The costs of moving home
Moving home can seem like a costly experience. Here's what you need to be aware of.
You can learn more about the most recent Government guidance on Stamp Duty Land Tax here.
