How much is Stamp Duty?
You pay 0% for the first £125,000, 2% on the portion up to £250,000, 5% up to £925,000, 10% up to £1.5m and 12% on anything above that.
Please refer to our stamp duty for first time buyers page for new stamp duty rates and calculations.
In the autumn budget of 2017, Chancellor Philip Hammond said that stamp duty was being abolished for all first-time buyers for purchases up to £300,000 with immediate effect.
People buying a first home worth up to £500,000 in London will also not have to pay stamp duty on the first £300,000 of the purchase price.
For home purchases above £500,000 stamp duty will remain the same.
|Minimum property purchase price||Maximum property purchase price||Stamp Duty rate (only applies to that part of the property price that falls within each band)|
|Over £1.5 million||12%|