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STAMP DUTY 

How is stamp duty calculated?


Since December 4th 2014, the rules regarding the payment of stamp duty have changed.

The payment is now calculated based on a rising gradient system, similar to income tax.

The payments are as follows:

Property or lease premium or transfer value SDLT rate:

Up to £125,000 - Zero
The next £125,000 (the portion from £125,001 to £250,000) - 2%
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%

To make things easier, we suggest you use the government's stamp duty calculator. It can be all important when setting your home-hunting budget!
 
http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm

The price of the property

Property is a buy to let or second home

Stamp Duty to pay is:

£0 GBP

(Effective rate 0%)

Purchase price of the property Rate of Stamp Duty

£0 - £125,000

0%

£125,001 - £250,000

2%

£250,001 - £925,000

5%

£925,001 - £1,5 million

10%

Over £1,5 million

12%

How is this calculated?

Under the new rules from 4 December you may pay Stamp Duty at several different rates, depending on the purchase price. Under the old rules, there were several different Stamp Duty rates, but you as a homebuyer, paid the same rate on the whole purchase price.