Stamp Duty Calculator

Looking to get a rough figure of the stamp duty costs you can expect to pay on your new property purchase? Simply fill in our stamp duty calculator form below and get an estimate in seconds.

These figures are only illustrative and are based on stamp duty systems in England and Northern Ireland. An assessment of your needs will be confirmed before a recommendation can be made. A personalised Key Facts Illustration will be provided if a recommendation for a mortgage product is made.

 

 

What is stamp duty?

Stamp duty land tax is a tax which is applied to property purchases above certain thresholds. If you’re the house buyer, it’s your responsibility to pay the stamp duty tax. 

Stamp duty is charged as a lump sum, which means it can’t be split into smaller pay instalments like a mortgage repayment; instead, it must all be paid in one single payment.

How is stamp duty calculated?

It’s a little complicated, but stamp duty compares the purchase price of your new property with a series of thresholds. Each threshold corresponds to a different percentage, with higher percentages for each higher threshold; and you’ll be charged that percentage of the proportion of your purchase price which exceeds each threshold.

Here’s an example of stamp duty in practice:

  • Let’s say you’re moving from your current property to a new home within England, and you purchase the property as your main residence for £800,000
  • There’s no stamp duty on the proportion of your property price below the £125,000 threshold.
  • Above the threshold of £125,000 and below the threshold of £250,000, you’ll pay 2% of the proportion of your property price between these two thresholds. (2% of £125,000 = £2,500)
  • Above the threshold of £250,000 and below the threshold of £925,000, you’ll pay 5% of the proportion of your property price between these thresholds. (The proportion of £800,000 above £250,000 is £550,000; so 5% of £550,000 is £275,000.)
  • So in total, you’ll pay £30,000 of stamp duty on top of your £800,000 property purchase. (£2,500 + £27,500 = £30,000)

The pricing thresholds and stamp duty percentages differ depending on where in the UK you’re purchasing your property, whether or not you’re a first-time buyer, or whether or not you’re purchasing an additional property to the one you already own. 

If you’re purchasing in England or Northern Ireland, you can get an instant estimate of your stamp duty tax using the handy online calculator tool above.

How do I pay stamp duty?

Typically, your solicitor will pay your stamp duty tax on your behalf and invoice you for the total amount. Some may request the total amount up front before the purchase is completed. Keep in mind that whoever processes the stamp duty payment, it’s still your responsibility to ensure the amount is fully covered.

What’s the deadline for stamp duty payments?

For all properties purchased in England or Northern Island, stamp duty must be paid in full within 14 days.

Failure to pay within 14 days may result in a fine, and you might also be charged interest on top.

All information above is correct at the time of writing. If you have any questions about stamp duty for your property purchase plans, Venoa’s friendly mortgage experts can help – simply call us on 01489 664 900 or email us at [email protected].

Venoa Financial Services Ltd is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Venoa Financial Services Ltd is a company registered in England and Wales with company number 11700326. The registered office address is 34 St Johns Road, Hedge End, Southampton, Hampshire, SO30 4AG United Kingdom.