The tax nobody talks about — until it's too late. See exactly what you'll owe.
Stamp Duty Land Tax (SDLT) is 0% on the first £250,000 (or £425,000 for first-time buyers), 5% from £250,001-£925,000, 10% from £925,001-£1,500,000, and 12% above £1.5M. First-time buyers get relief on properties up to £625,000.
First-time buyers pay no SDLT on the first £425,000 of a property priced up to £625,000. Above £625,000, standard rates apply. This can save up to £8,750 compared to standard rates.
If you already own a property and buy another (buy-to-let, second home), you pay an additional 5% surcharge on top of standard SDLT rates (increased from 3% in October 2024). This applies to the entire purchase price.
SDLT must be paid within 14 days of completion. Your solicitor/conveyancer usually handles this. Late payment incurs penalties and interest from HMRC.
No — Scotland has LBTT (Land and Buildings Transaction Tax) and Wales has LTT (Land Transaction Tax). Both have different rates and thresholds. This calculator covers England and Northern Ireland only.