| Tax Band | % | Taxable Sum | Tax |
less than £500k |
0 | ||
£500k to £925k |
5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
less than £500k |
3 | ||
£500k to £925k |
8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
'Stamp Duty Land Tax' is a tax due when buying property and land in the UK'.
Typically your Solicitor will assist you with Stamp Duty payments.
Since 4th December 2014, you will only pay the rate of tax on the part of the property price within each tax band. (This is similar to how income tax is calculated)
From 1 April 2016, the Buy-to-let/second home rates were introduced and are 3 percentage points above the current SDLT (Stamp Duty Land Tax) residential rates. They are charged on the portion of the value of the property that falls into each band.
From 22 November 2017, first time buyers buying properties under £500,000 don't pay any stamp duty up to £300,000, then 5% on the portion from £300,001 to £500,000.
You are eligible if you, and anyone else you're buying with, are first-time buyers and purchasing a property up to £500,000.
| Band | First time buyer |
| Up to £300,000 | 0% |
| £300,001 and up to £500,000 | 5% |
| Band | Standard | Buy-to-let/second home |
| Up to £125,000 | 0% | 3% |
| Above £125,000 and up to £250,000 | 2% | 5% |
| Above £250,000 and up to £925,000 | 5% | 8% |
| Above £925,000 and up to £1,500,000 | 10% | 13% |
| Above £1,500,000 | 12% | 15% |
