How much stamp duty will I have to pay?
I am thinking of buying a property in the UK, how much stamp duty will I have to pay on it?
When you are buying a property in the UK, the amount of stamp duty you will be required to pay will depend on two key factors:
- The cost of the property you are buying
- Whether you own another property in the UK or any other country
Basic stamp duty rates
If you do not already own a property in the UK or abroad, stamp duty rates in the UK are in accordance with a number of thresholds related to property value and is calculated as follows:
- Up to £125,000: 0%
- Between £125,000 and £250,000: 2%
- Between £250,000 and £925,0000: 5%
- Between £925,000 and £1,500,000: 10%
- Over £1,500,000: 12%
Stamp duty if you own another property
As of April 2016, if you already own a property, whether it is in the UK or elsewhere in the world, you will be subject to the higher rate of stamp duty which is essentially an additional 3% for each threshold, so:
- Up to £125,000: 3%
- Between £125,000 and £250,000: 5%
- Between £250,000 and £925,0000: 8%
- Between £925,000 and £1,500,000: 13%
- Over £1,500,000: 15%
If the value of the property is less than £40,000, there is no stamp duty to pay.
Stamp Duty Calculator
We have created a stamp duty calculator for people in the UK and abroad who would like to know how much stamp duty they will have to pay in the UK when buying a property.
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