Stamp Duty/LBTT Calculator

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Stamp Duty Calculator
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Calculations are based upon the acquisition of your new Miller home as your sole residence and do not take into account any higher rate of Land and Buildings Transaction Tax which may be due on additional properties. Land and Buildings Transaction Tax replaced stamp duty in Scotland on 1 April 2015. This calculator is based upon the rates in force from 15 July 2020. Land and Buildings Transaction Tax is a self-assessed tax and this calculator is for guidance purposes only.

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Stamp Duty Calculator

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Mortgage Advice Bureau

New Build Homes Mortgages FAQs

What is stamp duty?

Stamp Duty Land Tax (SDLT) is a tax that you need to pay when you buy a home in England or Northern Ireland over a certain threshold. The amount that you pay will depend on the price of the property, as well as when you choose to purchase it, since the thresholds can change.

What is Land and Buildings Transaction Tax (LBTT)?

Land and Building Transactions Tax (LBTT) is a tax that you need to pay when you buy a home in Scotland over a certain threshold. It’s the equivalent of Stamp Duty in England and Northern Ireland. To learn more about LBTT and how it works, read our guide: What is LBTT in Scotland?.

How much stamp duty will I have to pay?

If you are purchasing in England, the amount you have to pay depends on the value of the property that you are buying. Currently, the threshold for stamp duty on residential properties is £250,000, and £425,000 for first-time buyers, so you won’t have to pay anything up to this amount. After this, the following band rates apply:

Property Value

Stamp Duty Rate

Up to £250,000

0%

£250,001 to £925,000

5%

£925,001 to £1,500,000

10%

Over £1,500,000

12%

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

Not unless the home that you are buying costs more than £425,000. If it’s over this amount, the following band rates currently apply in England:

Property Value

Stamp Duty Rate

£0 to £425,000

0%

£425,001 to £625,000

5%

Note: If the property value is over £625,000, normal stamp duty rates will apply and no first-time buyer relief is available.

How much LBTT will I have to pay?

LBTT rates in Scotland differ to stamp duty rates in England and Northern Ireland. Currently, you’ll need to pay LBTT on any home worth more than £145,000 (£175,000 for first-time buyers). There’s no LBTT to pay up to this amount, then the following band rates apply:

Property Value

Stamp Duty Rate

£0 to £145,000

0%

£145,001 to £250,000

2%

£250,001 to £325,000

5%

£325,001 to £750,000

10%

Over £750,000

12%

 

Will I have to pay LBTT in Scotland as a first time buyer?

Currently, first-time buyers don’t have to pay LBTT on the first £175,000. After this, the following band rates apply:

Property Value

Stamp Duty Rate

£0 to £175,000

0%

£175,001 to £250,000

2%

£250,001 to £325,000

5%

£325,001 to £750,000

10%

Over £750,000

12%

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