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What is stamp duty?
Stamp Duty Land Tax (SDLT) is a tax paid when you buy a residential property in England or Northern Ireland over a certain price threshold. It is paid to HMRC within 14 days of completion.
Do first-time buyers pay stamp duty?
First-time buyers pay no stamp duty on the first £425,000 of a property's purchase price, and 5% on the portion between £425,001 and £625,000. For properties over £625,000, standard rates apply.
What counts as an additional property?
If you already own a property anywhere in the world and are buying another, you pay an extra 3% surcharge on top of standard rates. This applies to buy-to-let properties and second homes.
When do I pay stamp duty?
Your solicitor or conveyancer will handle the stamp duty payment. It must be paid to HMRC within 14 days of the completion of your property purchase.
Does stamp duty apply in Scotland and Wales?
No — Scotland uses Land and Buildings Transaction Tax (LBTT) and Wales uses Land Transaction Tax (LTT). Both have different rates and thresholds. This calculator only covers England and Northern Ireland.
Can I add stamp duty to my mortgage?
Most lenders do not allow stamp duty to be added to your mortgage. It must usually be paid from your own funds at completion, so factor this into your budget when saving for a deposit.