How much stamp duty tax will you pay when buying a home?

Stamp duty is one of the costs to consider when moving home. When you purchase a home, you are required to pay this tax to the government.

The amount of stamp duty home-buyers will have to pay in England and Northern Ireland was lowered in September. Changes were made to the amount you’ll pay for a home in Wales in October.

Your stamp duty may vary depending on where you live and if you’re a first-time buyer. If you buy your first home in England or Northern Ireland for less than £425,000, you won’t pay stamp duty. A portion of the sale over £250,000 will be subject to stamp duty if you have previously owned a home.

The percentage of stamp duty you’ll pay is also based on the price bracket your home falls into.

A 2-bed terrace house in Devon, England

Asking price: £250,000
Stamp duty rate: 0%
All home-buyers would pay: No stamp duty tax

A 5-bed house in Tyne & Wear, England

Asking price: £450,000
First-time buyer would pay: £1,250 stamp duty (5% on the portion over £425,000)
Non first-time buyer would pay: £10,000 stamp duty (5% on the portion over £250,000)

A 4-bed house on the Scottish Borders

Asking price: £240,000
LBTT rate: 2% on the portion over £145,000
First-time buyer would pay: £1,750 LBTT (includes first-time buyer relief)
Non first-time buyer would pay: £2,350 LBTT

Stamp Duty Tips

A 3-bed house in Hertfordshire, England

Asking price: £600,000
First-time buyer would pay: £8,750 stamp duty (5% on portion over £425,000)
Non first-time buyer would pay: £17,500 stamp duty (5% on portion over £250,000)

Stamp Duty Tips