How much tax will you have to pay when buying a property in the UK?

I am a first-time buyer
Property is a buy to let or second home

Based on a property / land value of , there will be Stamp Duty due.

Up to £125,0000%£0
Above £125,000 to £250,0002%
Above £250,000 to £925,0005%
Above £925,000 to £1,500,00010%
Above £1,500,00012%
Total{{model.effective}}% Stamp Duty due
Up to £300,0000%
Above £300,000.01 to £500,0005%
Total{{model.effective}}% Stamp Duty due

*Properties under £40,000 are not subject to second home SDLT

*Updated Dec 1st 2017

If you're a first-time buyer and not buying a property worth more than £500,000 then you will not have to pay a penny in stamp duty on the first £300,000 and then just 5% of any proportion above £300,000 but below £500,000.

The following is a breakdown:

Purchase priceRate on first property
Up to £300,0000%
£300,000.01 – £500,0005%

Need some more help with working out how much tax you'll need to pay? Get in touch today for a call back!