Stamp duty is a tax imposed when you buy land or property that isn’t your main residence or purchase a property over a certain value. This is an extremely complex areas stamp duty can become payable in many different situations.
It is important to consider the impact of stamp duty into your budget as the tax can be extremely high.
The government announced temporary changes to stamp duty on the 8th July 2020. The changes mean that you won’t pay stamp duty on properties purchased (as your main residence) up to £500,000 as long as your purchase completes on or before the 31st March 2020.
This is for properties in England and does not include purchasing second homes or buy to let properties
Stamp duty rate
Up to £500,000
The next £425,000
(The portion from £500,001 to £925,000)
The next £575,000
(The next £925,001 to £1.5m)
The remaining amount
(The portion above £1.5m)
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This stamp duty calculator is for illustration purposes only, your conveyancer will confirm the total stamp duty liability to you.
Get more accurate figures by speaking to an advisor
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Hello Mortgage Limited is registered in England and Wales. Registered Office: Suite 20, Cookson House, River Drive, South Shields, Tyne & Wear, NE33 1TL. Company Number: 10414170. DPA number ZA332902
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