Stamp duty calculator

Written by

David Joyson

Home Insurance Expert & Customer Champion

Reviewed by

Matthew Freedman

Performance Marketing Manager

All information correct as of 10th December 2024 

When purchasing a property or land in the UK, one thing that buyers need to be aware of is Stamp Duty. This tax can significantly affect the overall cost of a purchase and is an additional cost that many don’t account for.  

Below the calculator, we break down what Stamp Duty is, who is responsible for paying it, and some additional details to consider.  

Stamp Duty Calculator  

Looking to buy a home and need help calculating how much Stamp Duty you’ll need to pay? Use our helpful Stamp Duty calculator below:  

This stamp duty calculator provides an indicator of the tax due if you buy a residential property. You should always use a property professional for complex transactions.

Our stamp duty figures only apply to England & Northern Ireland. Scotland & Wales have different rules. Our assumptions are:

• You are buying a property with fixed foundations (e.g. not a caravan, mobile home or houseboat).
• There aren’t multiple properties in the transaction.
• The purchase will be made by an individual, married couple or civil partners not by an organisation, or group of unpartnered people.
• That this is not new leasehold property with a large annual rent e.g £4,500 a year for a 99 year lease.

What Is Stamp Duty?  

Stamp Duty is a tax that buyers must pay when purchasing property or land over a certain price threshold. Although first introduced as a tax on documents – like marriage licenses and other legal transactions — it’s evolved to specifically target property purchases today.   

The exact rate you pay depends on the value of the property. Other factors can affect the amount you pay — like whether you are a first-time buyer or if you are purchasing a second home.  

Stamp Duty is calculated as a percentage of the property’s purchase price. This increases with the value of the property. It applies to both freehold and leasehold properties, whether they are bought outright or with a mortgage.  

Who Pays Stamp Duty?  

In most cases, Stamp Duty is paid by the buyer of the property. The tax is due when the property purchase is completed, and buyers must file a Stamp Duty return and make payment to HM Revenue and Customs (HMRC) within 14 days of completion.  

 Failure to pay on time may lead to penalties and interest charges.  

Stamp Duty Exemptions and Considerations  

Below, we look at some potential exemptions, relief schemes and other considerations that may impact Stamp Duty:  

Second Homes and Buy-to-Let Properties  

If you are buying an additional property (such as a second home or a buy-to-let), you will need to pay an extra 5% Stamp Duty surcharge on top of the standard rates. This was raised from 3% during the Government’s budget announcement on 30^th October 2024. This applies even if the property you are buying costs less than £250,000.  

Temporary Stamp Duty Holidays  

In response to economic challenges, such as the COVID-19 pandemic, the UK government may introduce further temporary Stamp Duty holidays to stimulate the housing market. During these periods, the tax-free threshold may be raised, allowing buyers to save money on their property purchases.  

Scotland and Wales  

Stamp Duty in Scotland is replaced by the Land and Buildings Transaction Tax (LBTT), while in Wales, it’s called the Land Transaction Tax (LTT).   

These taxes have similar structures but different thresholds and rates. For example, in Scotland, LBTT starts at 2% for properties over £145,000, whereas in Wales, LTT begins at 3.5% for properties priced between £180,000 and £250,000.  

Relief Schemes  

In addition to first-time buyer relief, other circumstances can reduce or eliminate Stamp Duty.   

Charities and registered social landlords, for example, may qualify for exemptions when purchasing property. Additionally, if a property is transferred due to divorce, a will, or inheritance, Stamp Duty may not apply.  

Insure Your New Home with Homeprotect  

Protect your new home with insurance from Homeprotect.  

Whether you require basic building and contents insurance, if you’re buying a second home or if you need specialist landlord cover, Homeprotect has policies to suit you.