Key points
- Each slice of the price is taxed at its own rate. In England a £300,000 home costs £5,000.00.
- First-time buyers in England and Northern Ireland pay nothing up to £300,000, as long as the price is £500,000 or less.
- Scotland and Wales have their own taxes, with different bands: LBTT and LTT.
- Second homes cost more: £20,000.00 on £300,000 in England.
Work out your own
Put in your price, where you are buying and whether it is your first home.
Open the stamp duty calculatorThe bands in each nation
Each part of the price is taxed at the rate for its band, so only the slice above a threshold pays the higher rate. England and Northern Ireland charge Stamp Duty Land Tax, Scotland charges Land and Buildings Transaction Tax and Wales charges Land Transaction Tax.
England and Northern Ireland (SDLT)
| Part of the price | Rate |
|---|---|
| £0 to £125,000 | 0% |
| £125,000 to £250,000 | 2% |
| £250,000 to £925,000 | 5% |
| £925,000 to £1,500,000 | 10% |
| Over £1,500,000 | 12% |
Scotland (LBTT)
| Part of the price | Rate |
|---|---|
| £0 to £145,000 | 0% |
| £145,000 to £250,000 | 2% |
| £250,000 to £325,000 | 5% |
| £325,000 to £750,000 | 10% |
| Over £750,000 | 12% |
Wales (LTT)
| Part of the price | Rate |
|---|---|
| £0 to £225,000 | 0% |
| £225,000 to £400,000 | 6% |
| £400,000 to £750,000 | 7.5% |
| £750,000 to £1,500,000 | 10% |
| Over £1,500,000 | 12% |
What you pay at common prices
| Price, moving home | England or NI | Scotland | Wales |
|---|---|---|---|
| £200,000 | £1,500.00 | £1,100.00 | £0.00 |
| £300,000 | £5,000.00 | £4,600.00 | £4,500.00 |
| £450,000 | £12,500.00 | £18,350.00 | £14,250.00 |
| £650,000 | £22,500.00 | £38,350.00 | £29,250.00 |
First-time buyers
In England and Northern Ireland, first-time buyers pay nothing on the first £300,000 and 5% on the rest, as long as the price is £500,000 or less. Above that the relief is lost entirely, so a £505,000 home costs £15,250.00 against £10,000.00 at £500,000.
Scotland raises the nil rate band to £175,000 for first-time buyers at any price, saving up to £600.00. Wales has no first-time buyer relief. Everyone buying must be a first-time buyer for the relief to apply.
Second homes and buy-to-let
Buying a home while you still own another usually costs more. On a £300,000 home:
- England and Northern Ireland add 5% to every band from £40,000: £20,000.00.
- Scotland adds an Additional Dwelling Supplement of 8% of the whole price: £28,600.00.
- Wales charges its higher rates from the first pound: £19,950.00.
Buyers who are not UK residents pay 2% more in England and Northern Ireland.
Bottom line
Where you buy, the price and whether you already own a home all change the bill. Budget for it on top of your deposit: it is usually paid from your own savings when the purchase completes.
Tips
- If you're a first-time buyer near £500,000, a small drop in price can save thousands, because the relief stops completely above the limit.
- Your solicitor files the return and pays the tax, usually within 14 days of completion in England and Northern Ireland: have the money ready.
- If you sell your old home within three years of buying a new one, you may be able to claim back the higher rates for additional properties.
This guide explains the rules; it is not personal financial advice.