Stamp Duty Calculator

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Stamp Duty Calculator Wales

What Is Stamp Duty?

Stamp duty is a tax paid by the purchaser of a property if the value is over £250,000. Stamp duty rates range between 5% – 12% dependant on a variety of factors such as whether you are a multiple homeowner, the value of the property, and the purchase date.

Why is stamp duty different in England, Scotland, and Wales?

Stamp duty is a devolved tax meaning the rates are set out by that countries parliament. Although all countries in the UK charge stamp duty rates may differ based on the policies of the current government.

How are some properties exempt from stamp duty?

On some occasions a property may be exempt from stamp duty. These circumstances are; if a property is left in a will, if no money or payment is exchanged, or if a property is transferred because of a divorce or end of a civil partnership.

Do I pay stamp duty when I sell my house?

No, you do not pay stamp duty for selling a home only purchasing one. As most people sell to buy the additional cost of stamp duty should be factored into your purchase decisions.

Is it illegal not to pay stamp duty?

No paying or evading paying stamp duty is considered a criminal offence in the UK. It is crucial you pay stamp duty as part of your purchase.

Is stamp duty tax deductible?

No, stamp duty is not tax deductible.

Do I have to pay stamp duty as a first-time buyer?

There are stamp duty costs for first time buyers however rates and thresholds are eased to make the initial purchase easier –

Property Value – Up to £425,000 – Stamp Duty Rate 0%

Property Value – Up to £425,001 and up to £925,000 – Stamp Duty Rate 5%

Property Value – £925,001 and up to £1.5 million – Stamp Duty Rate 10%

Property Value – Above £1.5 million – Stamp Duty Rate 12%