Stamp duty calculator - How much is stamp duty?

Stamp duty threshold in England and NI

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Stamp duty can quickly add up, so it’s important to budget for it at the beginning of the home buying process.

You can use L&C’s stamp duty calculator to work out how much you can expect to pay. Simply enter the purchase price of your property and the calculator will do the rest.

Stamp duty for first time buyers in England and NI

If you’re a first time buyer who has never owned a residential property, you don’t have to pay stamp duty on the first £300,000 of the property value if you’re buying a home costing up to £500,000. You must pay 5% stamp duty on the portion between £300,001 and £500,000. That means the stamp duty threshold for first time buyers is as follows:

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Standard stamp duty rates apply to first time buyers purchasing properties costing more than £500,000. For joint applications, both parties must be first time buyers – if either has owned property before, the standard stamp duty rates will apply.

Stamp duty in Scotland and Wales

If you’re buying a property in Scotland, you'll pay Land and Buildings Transaction Tax (LBTT) rather than stamp duty. You can see your LBTT rates below. First time buyers in Scotland benefit from relief through an increased nil rate band of LBTT up to £175,000.

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If you’re buying a property in Wales, under the Welsh government’s Land Transaction Tax (LTT), which replaced stamp duty in 2018, there is no LTT to pay for all buyers purchasing homes costing up to £225,000.

Stamp duty on second homes

If you already own a home and are buying another property, either to rent out, use as a holiday home, or for any other purpose, you’ll usually have to pay a higher rate of tax. This will vary depending on where the property is, with England and NI charging an additional 3% and Scotland applying an additional 4% on top of the normal stamp duty rates. This surcharge will also apply even if the main home you currently own is overseas.

Wales applies higher residential rates as follows

Things to bear in mind

If you purchase a house for your child, and are named on the deeds of the property, whilst already owning a property, the surcharge will be payable.

If you already have a buy to let property, and are selling your main residence and buying a new main residence for you to live in, you will not have to pay the surcharge.

If you complete on your new property while still owning your old home you will have to pay the surcharge. However, if you sell your old home within 36 months you can reclaim the extra tax.

Stamp duty on new builds

You need to pay stamp duty on the price of your new build property. This tax applies to fixtures and fittings that are part of the building, like fitted wardrobes or kitchens. However, you do not have to pay stamp duty on removable items like carpets and curtains. Some builders may offer you a payment to help with the cost of your stamp duty.

Stamp duty on shared ownership properties

If you are purchasing a percentage of a shared ownership property, you can opt to pay stamp duty on just the share you are purchasing, or if you are likely to purchase additional shares you can opt to pay stamp duty on the full purchase price. Please refer to the government website for full information.

When do you pay stamp duty?

You have pay your stamp duty within 14 days of completion.

The date of completion is the day all the contracts have been signed and dated – and usually the day when you get the keys to your new home. In most cases, your solicitor or conveyancer will take care of paying the stamp duty on your behalf and they should confirm this for you. If you take longer than 14 days, you could be fined and may even have to pay interest on top.

Other stamp duty exemptions

Many first time buyers will not have to pay stamp duty, but there are a few other types of property transaction where you don’t have to pay stamp duty. These include:

• A divorce or separation where one partner is transferring their share of the property to the other
• If the property is a gift
• If the property is left in a will
• If you buy a freehold property for less than £40,000

You can find more about stamp duty exemptions on the Gov.uk website.

Stamp duty is just one of the additional costs you’ll need to pay when you buy a house. To find out more about the other additional costs, read L&C's guide to the cost of buying a house.

(Information correct at the time of writing - January 2025, for completions after 31^st March 2025)