Calculate Your Stamp Duty
When is Stamp Duty paid?
When buying a property over a certain price, stamp duty is payable to the HMRC 30 days from the date of completion or you may risk a fine. Your solicitor or legal adviser should take care of this for you and ensure you don’t miss the deadline. Some buyers prefer to add on the SDLT amount to their mortgage loan. Please speak to your mortgage provider.
Buy-to-let and second homes Stamp Duty
Knowing how much you need to budget for Stamp Duty Land Tax when buying a property isn’t always easy. The rate differs depending on how many properties you own, with lower rates for your first property.
You can use the Surrenden Invest stamp duty calculator to calculate stamp duty on residential property in the UK.
Calculate your stamp duty in a single step
Simply enter the price of the property and our free-to-use stamp duty land tax calculator will calculate your stamp duty.
Please note that the amount quoted is indicative and should be confirmed as part of your property purchase process.
What are residential property stamp duty rates?
How much stamp duty you have to pay when buying a residential property in the UK depends on the value of the property and whether it is your first home or an additional property. You have to pay stamp duty to HMRC within 30 days of completion.
Stamp duty is payable based on a sliding rate scale:
|Property value bandings||Rate at which stamp duty is applied (first home only)|
|£0 – £300,000||0%|
|£300,001 – £500k||5%|
|£500,001 – £925k||5%|
|£925,001 – £1.5m||10%|
How much second home stamp duty is added?
A second (or subsequent) home incurs additional stamp duty land tax of 3% in each banding.
What are the buy to let stamp duty bandings for second homes?
|Property value bandings||Rate at which second home stamp duty is applied|
|£0 – £125,000||3%|
|£125,001 – £250k||5%|
|£250,001 – £925k||8%|
|£925,001 – £1.5m||13%|
Are there ways to pay less stamp duty?
Stamp duty is payable based on everything attached to the land and property, so not on any removable items such as white goods or furniture. As such, any such goods that are left could be purchased separately from the vendor in order to exclude them from the total property price. You would need to draw up an appropriate legal agreement in respect of such arrangements.
Does every buyer have to pay stamp duty?
In short, yes. You pay stamp duty regardless of whether you live in the UK or overseas or whether you are investing via a company.
If you would like to know more, simply contact our friendly team of property investment professionals.