This stamp duty calculator has been updated to account for the March 2011 Budget.

 

 

Stamp duty is essentially a charge on certain documents, not transactions. However, an equivalent tax is charged on electronic share transfers under the CREST system. From 1 December 2003, stamp duty land tax (SDLT) replaced stamp duty for land transactions, whether or not completion takes place.

 

The most significant duties are based on the amount of consideration.

• 0.5% duty on share transfers.
• For land transactions and lease premiums, rates, charged on the whole consideration, are:

Up to £125,000	nil
£125,001 to £250,000*	1%
£250,001 to £500,000	3%
More than £500,001 to £1,000,000	4%
More than £1,000,000**	5%

*For first time buyers only, the stamp duty threshold increases to £250,000 until 24th March 2012. That means if you have not bought a property before, either individually or within a marriage, you will not have to pay stamp duty on a purchase of property up to £250,000 in value.
**From 5th April 2011, the stamp duty on properties worth over £1,000,000  was lifted from 4% to 5%. Non-residential property transfers, and residential property transfers up to £150,000, in disadvantaged areas are exempt from stamp duty.

A special sliding scale applies to duty on rents. SDLT is charged at 1% (upfront payment) on the net present value of rent over the lease term where that exceeds £120,000 (residential) or £150,000 (commercial). This stamp duty calculator has been updated to account for the 2005 budget changes:

Calculate how much stamp duty you will pay (property purchase in non-disadvantaged area):

Value of property £ Calculate Stamp duty £

 

 

For those interested in how to significantly reduce both CGT and income tax on property investments, we recommend the publication 'How to Avoid Property Tax'. For more information, click here.

 

Now that you have an idea of the stamp duty you might have to pay when you purchase your property, would you like an instant conveyancing quote? Click here for our online conveyancing calculator.

 

If you are interested in lowering or even eliminating your tax bill on your property transactions, by applying strategies that are well within the law, we recommend the publication 'Using a Property Company to Save tax'. For more information, click here.