Stamp Duty Calculator
Stamp Duty Land Tax (SDLT) is usually payable on the purchase of residential properties in England and Northern Ireland valued at over £250,000. If the value is under £625,000 and it’s your first home (or the first home of everyone named on the mortgage) then the rates are discounted. Eligible first-time buyers will pay no Stamp Duty on properties costing up to £425,000.
There are also different rules if it’s a second property, if you are not UK resident or if the sale involves a new residential leasehold property – your Flagstone financial adviser can explain these intricacies to you and help you budget for all aspects of the purchase.
Rates are subject to change but estimated to remain unchanged until 31 March 2025.
Stamp Duty calculator
Our advisers are available online or in person to help you through your new mortgage.
How is Stamp Duty calculated?
If you’ve bought a home before:
For a purchase price of:
- Up to £250,000 – you pay nothing
- For the next £675,000 (so on properties worth up to £925,000) you pay 5% on this (but nothing on the first £250,000)
- The next £575,000 (so on properties worth up to £1.5 million) you pay 10% on this portion (in addition to the rates above)
- And on properties valued at over £1.5million, you’ll pay 12% on the remainder.
For first time buyers, rates are reduced on properties up to £625,000 and are zero for properties up to £425,000
Don’t worry if this looks complicated – we’ve built you a calculator to make it easier!