Stamp Duty
Stamp Duty is a purchase tax you might have to pay when you buy property. But Stamp Duty Land Tax (or SDLT as it’s known) only applies in England and Northern Ireland. Scotland and Wales have their own systems of Stamp Duty which work differently and charge different rates of tax.
Quick reference tables for each of SDLT, LBTT and LTT are below.
You can download the latest spreadsheet to calculate stamp duty.
A little more detail (although with old figures) and some history on LBTT and LTT can be found in our blog post Welsh and Scottish stamp duty.
Stamp Duty Land Tax (SDLT) In England and Northern Ireland
For residential property in England and Northern Ireland, SDLT is charged as a percentage of the property purchase price which falls within each SDLT band as follows:
These rates are valid from 31st October 2024.
| Purchase price | SDLT rate | Additional rate |
|---|---|---|
| Up to £250,000 | 0% | 5% |
| Above £250,000 to £925,000 | 5% | 10% |
| Above £925,000 to £1,500,000 | 10% | 15% |
| Over £1,500,000 | 12% | 17% |
First time buyers can claim First Time Buyer Relief up to £500,000 (0% to £300,000 then 5% to £500,000). But if you buy a second home in England or Northern Ireland you have to pay a higher rate. This is 3% on top of the standard rate.
The official SDLT rate information is here.
Land and Buildings Transaction Tax (LBTT) In Scotland
For residential property in Scotland, LBTT is charged as a percentage of the property purchase price which falls within each LBTT band as follows:
| Purchase price | LBTT rate | Additional rate |
|---|---|---|
| Up to £145,000 | 0% | 6% |
| Above £145,000 to £250,000 | 2% | 8% |
| Above £250,000 to £325,000 | 5% | 11% |
| Above £325,000 to £750,000 | 10% | 16% |
| Over £750,000 | 12% | 18% |
First time buyers can claim First Time Buyer Relief up to £175,000. But if you buy a second home or buy to let in Scotland you have to pay an Additional Dwelling Supplement or ADS. This is 6% on top of the standard rate for purchases above £40,000.
The official Scottish rate information is here.
Land Transaction Tax (LTT) In Wales
For residential property in Wales, LTT is charged as a percentage of the purchase price which falls within each LTT band as follows:
These rates are valid from 10th October 2022.
| Price threshold | LTT rate |
|---|---|
| The portion up to and including £225,000 | 0% |
| The portion over £225,000 up to and including £400,000 | 6% |
| The portion over £400,000 up to and including £750,000 | 7.5% |
| The portion over £750,000 up to and including £1,500,000 | 10% |
| The portion over £1,500,000 | 12% |
If you buy a second home or buy to let, or if you’re buying through a company or trust, in Wales you have to pay the Higher Residential Rate. This is not a consistent extra rate as the bands are also different, they are shown below. (Unlike Scotland and England there’s no concession for first time buyers.)
| Price threshold | LTT Higher rate |
|---|---|
| The portion up to and including £180,000 | 4% |
| The portion over £180,000 up to and including £250,000 | 7.5% |
| The portion over £250,000 up to and including £400,000 | 9% |
| The portion over £400,000 up to and including £750,000 | 11.5% |
| The portion over £750,000 up to and including £1,500,000 | 14% |
| The portion over £1,500,000 | 16% |
The official Welsh rate information is here.
Stamp Duty Calculations Built Into PaTMa
Don't want to do stamp duty calculations yourself? PaTMa has you covered:
- Download the latest spreadsheet to calculate SDLT, LBTT and LTT.
- Use the PaTMa Buy To Let Property Profit and Tax Calculator with stamp duty calculations built in.
- The free browser extension also has built in stamp duty calculations (you'll need a PaTMa account but that’s also free).
- All Prospects you save with PaTMa Prospector will use the postcode to automatically show the correct stamp duty for that property.
Changes since original publication
- July 2020 - SDLT, LTT and LBTT adjustments for the stamp duty holiday.
- December 2020 - LTT higher rate was increased.
- December 2020 - LTT non-residential thresholds were updated.
- March 2021 - LBTT stamp duty holiday ended.
- March 2021 - SDLT stamp duty holiday extended.
- June 2021 - LTT stamp duty holiday ended.
- June 2021 - SDLT stamp duty holiday tapering.
- September 2021 - SDLT stamp duty holiday end.
- September 2022 - SDLT starting point raised in mini-budget.
- October 2022 - LTT stamp duty rates updated.
- December 2022 - LBTT additional rate updated.