A stamp duty calculator, helps property investors estimate their stamp duty costs (property purchase tax) based on the property's price and location, including variations for different regions. By providing upfront cost estimates, it enables better financial planning and budgeting for investors, allowing them to manage their investment portfolios more effectively.
The following are the stamp duty changes in the UK in 2024:
1. Increase to the nil-rate threshold: The nil-rate threshold for stamp duty land tax 2024 (SDLT) has been temporarily increased from £125,000 to £250,000 for residential properties purchased up to 31 March 2025. This means that buyers will pay no stamp duty on the first £250,000 of the purchase price.
2. Increase to the first-time buyer's relief threshold: The first-time buyer's relief threshold has also been temporarily increased from £300,000 to £425,000 for residential properties purchased up to 31 March 2025. This means that first-time buyers will pay no stamp duty on the first £425,000 of the purchase price of their first home.
3. Increase to the maximum property value eligible for first-time buyer's relief: The maximum property value that is eligible for first-time buyer's relief has been temporarily increased from £500,000 to £625,000. This means that first-time buyers can now purchase a property worth up to £625,000 and still be eligible for first-time buyer's relief.
Our UK Investor Guide covers all the necessary legal and tax matters as well as the relevant acquisition and operating costs that come with buying property in the UK. Furthermore, you can expect guidance on the process of arranging mortgage finance as well as key information on lettings and management.
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First-time buyers in the UK do not have to pay stamp duty on the first £425,000 of the purchase price of their first home. This is a relief that was introduced in July 2020 to help first-time buyers get onto the property ladder.
Yes, you can get a stamp duty rebate in the UK if you meet certain criteria. Here are some examples:
First-time buyer relief: First-time buyers are eligible for a stamp duty rebate on the first £425,000 of the purchase price of their first home.
Multiple dwellings relief: If you are buying a property to live in while you renovate your main home, you may be eligible for a stamp duty rebate on the second property.
Disabled relative relief: If you are buying a property for your disabled child or dependent relative, you may be eligible for a stamp duty rebate.
Overpaid stamp duty: If you have overpaid stamp duty, you may be able to claim a rebate.
To claim a stamp duty rebate, you will need to fill out a form and submit it to the HM Revenue and Customs (HMRC). You can find the form on the HMRC website.
Disclaimer: This information is for reference only. Our stamp duty calculator has been designed to give a useful general indication of costs. Calculation results are approximations and for information purposes only and rates quoted are not considered as rate guarantees.
LBTT stands for Land and Buildings Transaction Tax. It is a tax that is payable on the purchase of residential and non-residential property in Scotland. LBTT was introduced on 1 April 2015, replacing Stamp Duty Land Tax (SDLT).
The rates of LBTT vary depending on the type of property being purchased and the purchase price. For example, first-time buyers are eligible for a relief on LBTT on the first £175,000 of the purchase price of their first home.
The following table shows the LBTT rates for residential property in Scotland:
LBTT for First Time Buyers
| Purchase price | LBTT Rate |
|---|---|
| £0 - £175,000 | No LBTT |
| £175,001 - £250,000 | 2% |
| £250,001 - £325,000 | 5% |
| £325,001 - £750,000 | 10% |
| Over £750,000 | 12% |
LBTT for Single Homes
| Purchase price | LBTT Rate |
|---|---|
| £0 - £145,000 | No LBTT |
| £145,001 - £250,000 | 2% |
| £250,001 - £325,000 | 5% |
| £325,001 - £750,000 | 10% |
| Over £750,000 | 12% |
LBTT For Second Homes
| Purchase price | LBTT Rate |
|---|---|
| £0 - £145,000 | 6% |
| £145,000 - £250,000 | 8% |
| £250,001 - £325,000 | 11% |
| £325,001 - £750,000 | 16% |
| Over £750,000 | 18% |
To calculate the amount of LBTT you owe on a residential property in Scotland, simply multiply the LBTT rate for the relevant price band by the purchase price of the property. For example, if you are buying a residential property for £300,000, you will pay 6% LBTT on the first £145,000 of the purchase price (£8,700), 8% LBTT on the next £105,000 (£8,400), and 11% LBTT on the remaining £50,000 (£5,500), for a total LBTT bill of £22,600.
There are a few exceptions to the LBTT rates for residential property. For example, if you are buying a residential property to live in while you renovate your main home, you may be eligible for a reduced rate of LBTT. You may also be eligible for a reduced rate of LBTT if you are buying a residential property for your disabled child or dependent relative.
Wales doesn't have a "stamp duty calculator" in the same sense as England and Northern Ireland. While they all have taxes on property purchases, Wales uses a different system called Land Transaction Tax (LTT) instead of Stamp Duty Land Tax (SDLT).
Therefore, Wales doesn't use "stamp duty calculators" and instead relies on Land Transaction Tax calculators specifically designed for their tax system. These calculators consider the unique LTT rates and thresholds, providing accurate estimations for property tax in Wales.
The stamp duty on a second home in the UK is higher than the stamp duty on a first home. This is because the government wants to discourage people from buying multiple homes, which can drive up the price of housing and make it more difficult for first-time buyers to get onto the property ladder. It still follows a tiered approach, where the initial portion of your property value incurs a lower rate. As you progress to higher tiers, the corresponding charges on those segments increase accordingly.
The stamp duty rates for First-Time Buyers are as follows:
| Purchase Price | Stamp Duty Rate |
|---|---|
| £0 - £425,000 | Zero |
| £425,001 - £625,000 | 5% |
*If the price is over £625,000, follow the rules 'For Single Home'.
The stamp duty rates for Single Homes (Moving House) are as follows:
| Purchase Price | Stamp Duty Rate |
|---|---|
| Up to £250,000 | Zero |
| £250,001 - £925,000 | 5% |
| £925,001 - £1.5 million | 10% |
| Over £1.5 million | 12% |
The stamp duty rates for second homes (additional properties) are as follows:
| Purchase Price | Stamp Duty Rate |
|---|---|
| Up to £250,000 | 5% |
| £250,001 - £925,000 | 8% |
| £925,001 - £1.5 million | 13% |
| Over £1.5 million | 15% |
To calculate the amount of stamp duty you owe on a second home, simply multiply the stamp duty rate for the relevant price band by the purchase price of the property. For example, if you are buying a second home for £300,000, you will pay 5% stamp duty on the first £250,000 of the purchase price (£7,500) and 8% stamp duty on the remaining £50,000 (£4,000), for a total stamp duty bill of £11,500. You can use our stamp duty calculator 2024 to help you to make this calculation on your property.
There are a few exceptions to the higher stamp duty rates for second homes. For example, if you are buying a second home to live in while you renovate your main home, you may be eligible for a reduced rate of stamp duty. You may also be eligible for a reduced rate of stamp duty if you are buying a second home for your disabled child or dependent relative.
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