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Stamp Duty

Stamp Duty Land Tax is a fee charged by the Government when you buy a new home in England.

As of 8th July 2020, you will not have to pay any Stamp Duty on properties up to £500,000 until 31st March 2021.

The amount of Stamp Duty you need to pay is determined on the price of your purchase.

There are several rate bands for Stamp Duty, and rates also vary if you are a first time buyer or if you own multiple properties. The tax is calculated on each part of the property purchase falling in each band.

Current Rates (July 2020 – March 2021)

View the full Stamp Duty rate bands below:

Property purchase price Stamp Duty Rate which applies to the part of the property falling in the price band
£0 – £500,00 0%
£500,001 – £925,000 5%
£925,001 – £1.5 million 10%
Over £1.5 million 12%

Between July 2020 and March 2021, the special rules which were in place for first time buyers have been replaced with the new reduced rates.

Buyers of second homes and buy-to-let properties will have to pay an extra 3% in Stamp Duty on top of current rates for each band.

Don’t worry about figuring it out for yourself – use our Stamp Duty Calculator to figure out how much you will have to pay for your new home!