How Much Should My Stamp Duty Be?


How Much Should My Stamp Duty Be?

Thu 26 Oct 2017 by Ellie Pierpoint

“How much will my Stamp Duty be?” is one of the most common questions we receive here at Homeward Legal, and it’s no wonder, since this can often be the most expensive part of your conveyancing fees. So, let’s get a little clarity on the subject…

How much is Stamp Duty?

How much Stamp Duty you pay will be based on the value of the property you are buying. The amount is worked out in tiers, starting from £125,000. This means that if your property is worth less than £125,000, you will not have to pay Stamp Duty at all, though you will still have to fill out a declaration form stating this.


Purchase price of property Stamp Duty cost Buy to Let/Extra Home Rate*
£0 - £125,000 0% 3%
£125,001 - £250,000 2% 5%
£250,001 - £925,000 5% 8%
£925,001 - £1.5 million 10% 13%
£1,500,000.01+ 12% 15%

*As of April 2016, anyone purchasing another home or a Buy to Let will have to pay a higher amount of Stamp Duty.

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How can I work out my Stamp Duty?

If you know the value of the property you are buying, you can use the table above to work out how much Stamp Duty you need to pay. There are also a number of Stamp Duty calculators on the internet – we recommend this one by Money Advice Service.

For example, if you are buying a £250,000 property, you will only pay tax on the portion above £125,000 - so in this case, £125,000. This is just at the lower limit of Stamp Duty rates, so you will pay 2% of this amount = £2,500.

Do I have to pay Stamp Duty?

Anyone buying a property worth more than £125,000 will have to pay Stamp Duty, with no exceptions. The government used to offer a tax relief to disadvantaged areas, but they scrapped this several years ago, so now everyone pays.

Is there any way I can get out of Stamp Duty?

Unfortunately, no, everyone buying property worth over £125,000 will have to pay Stamp Duty!

When do I pay Stamp Duty?

Ordinarily you will have to pay Stamp Duty when you transfer the final sum of money for your property and your solicitor will organise this with you. Legally, you have 30 days from the day of purchase to pay your Stamp Duty, and remember, even if your property is worth less than £125,000, you will still have to fill in a form to prove you are exempt.

Your solicitor will provide you with a Stamp Duty return, and should help you fill it out, but ultimately it is your responsibility to make sure it is sent on time.

If you have any other questions about how to pay Stamp Duty, don’t hesitate to give our friendly and knowledgeable team a call on 0800 038 6699 and we’ll be happy to talk you through the process.

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