Stamp Duty Tax Calculator - 2022 Updated 23/09

How much stamp duty will you have to pay when buying a residential property in 2022?

The following calculator and commentary is for general interest only and must not be relied on. It may not be up to date or complete, relates only to certain types of residential property in England or Northern Ireland and does not constitute advice. We can often help you to find suitable independent advisers, but you will always need to take specific advice from your property lawyers, accountants or other financial advisers on tax issues in specific situations.

When is stamp duty paid?

When buying a property over a certain price, stamp duty is payable to the HMRC 14 days from the date of completion or you may risk a fine. Your solicitor or legal adviser should take care of this for you and ensure you don't miss the deadline. Some buyers prefer to add on the stamp duty tax amount to their mortgage loan. Please speak to your mortgage provider.

Stamp Duty Land Tax (SDLT) is a progressive tax paid when purchasing a freehold, leasehold or shared ownership residential property over £250,000 in England and Northern Ireland (separate taxes apply in Wales and Scotland). 

Different SDLT rates and thresholds apply to non-residential property or mixed use land.

The rates, which are payable only on the PORTION of a property price that falls within each band, were updated in the mini-Budget on 23 September and are set out below.

How much stamp duty will I have to pay when buying a residential property?

Brackets Rate
Up to £250,000 0%
The next £675,000(the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

How to calculate the new stamp duty rate 

Example

    • Property purchase price: £850,000.

    • There is no stamp duty Tax applied to the first £250,000

    • 5% above £250,000

    • That equates to an overall rate of 3.5% of the sale price, or £30,000.

The rates are different for first-time buyers

First-time buyers will not pay any stamp duty on the first £425,000 (up from £300,000 following the mini-Budget) and the value of any property on which they can claim this relief has risen to £625,000 from £500,000.

Buy-to-let and second homes stamp duty

From Nov 2024, buy-to-let and second home buyers in England and Wales will have to pay an additional 5% on each stamp duty band. To discuss which London or UK areas will provide the highest returns on investments, please speak to one of our London or regional property experts who can offer advice on where and when to invest.

What are the rates for non-UK residents?

On the 1 April 2021, a 2% stamp duty surcharge for overseas buyers purchasing residential property in England and Northern Ireland was introduced.

The surcharge applies to non-resident buyers regardless of the type of buyer (e.g. company or individual) subject to a few exceptions for specific collective investment vehicles such as REITs.

The surcharge is levied in addition to the 3% buy-to-let/second homes charge, the flat 15% stamp duty rate on purchases of dwellings worth more than £500,000 by companies acting as "envelopes" and the existing stamp duty rates for home buyers.

Source: HMRC