Stamp Duty Tax Calculator
Our Stamp Duty Tax Calculator gives you the chance to calculate the total cost of your stamp duties when you are buying a new home.
How to use the calculator: Simply enter the total cost of the property that you are hoping to buy into our Stamp Duty Tax Calculator. Our calculator will then go on to give you an analysis of the result, which include how much stamp duty will be due in each tax band, as well as the total cost of stamp duty due on your new home.
What is Stamp Duty?
Stamp Duty is a tax paid by the buyer of a UK property, based on the purchase price and type of property purchased. The amount of stamp duty varies according to the value of the property and the type of purchaser, with different rates applying for first-time buyers and multiple home owners.
The current stamp duty rates in England and Northern Ireland are shown in the tables below.
| Tax Band | First-Time Buyer Stamp Duty Rate |
|---|---|
| £0 to £425,000 | 0% |
| £425,000 to £625,000 | 5% |
| Over £625,000 | Standard Stamp Duty Rates Apply |
| Tax Band | Standard Stamp Duty Rate | Additional Property Stamp Duty Rate |
|---|---|---|
| £0 to £250k | 0% | 3% |
| £250k to £925k | 5% | 8% |
| £925k to £1.5m | 10% | 13% |
| Over £1.5m | 12% | 15% |
Stamp Duty Tax Calculator Example
Certainly! Here's an example of a Stamp Duty Tax Calculator using a table format that allows you to input multiple property values and calculate their respective stamp duty tax amounts:
| Property | Property Value | Stamp Duty Tax |
|---|---|---|
| Property 1 | $500,000 | |
| Property 2 | $800,000 | |
| Property 3 | $1,200,000 |
To calculate the stamp duty tax for each property, we need to apply the applicable stamp duty rates based on the property value. Let's assume the same stamp duty rates as mentioned in the previous response:
For Property 1: Stamp Duty Tax = ($250,000 * 0%) + (($400,000 - $250,000) * 2%) + (($500,000 - $400,000) * 5%) Stamp Duty Tax = $0 + ($150,000 * 0.02) + ($100,000 * 0.05) Stamp Duty Tax = $0 + $3,000 + $5,000 Stamp Duty Tax = $8,000
For Property 2: Stamp Duty Tax = ($250,000 * 0%) + (($400,000 - $250,000) * 2%) + (($800,000 - $400,000) * 5%) Stamp Duty Tax = $0 + ($150,000 * 0.02) + ($400,000 * 0.05) Stamp Duty Tax = $0 + $3,000 + $20,000 Stamp Duty Tax = $23,000
For Property 3: Stamp Duty Tax = ($250,000 * 0%) + (($400,000 - $250,000) * 2%) + (($1,200,000 - $400,000) * 5%) Stamp Duty Tax = $0 + ($150,000 * 0.02) + ($800,000 * 0.05) Stamp Duty Tax = $0 + $3,000 + $40,000 Stamp Duty Tax = $43,000
Therefore, the stamp duty tax payable for Property 1 with a value of $500,000 would be $8,000, for Property 2 with a value of $800,000 would be $23,000, and for Property 3 with a value of $1,200,000 would be $43,000.
Please note that this is just an example, and you can add more properties or modify the table to calculate stamp duty tax amounts for different property values. Additionally, the stamp duty rates used in this example are fictional and may not reflect the actual rates applicable in your jurisdiction.
