This calculator is only intended to provide a guide and advice should be sought before making any financial decisions.
|Band||Normal Rate||Additional Property|
|Less than £125k||0%||3%*|
|£125k to £250k||2%||5%|
|£250k to £925k||5%||8%|
|£925k to £1.5m||10%||13%|
|rest over 1.5 m||12%||15%|
|*For additional property the first £40k will attracted 0% tax.
From £40k to £125k the rate will be 3% on full purchase price.
For a single property purchase, no SDLT will be paid on the first £125,000. Between £125,000 and £250,000 buyers will pay 2% within this band, 5% on the portion between £250,000 and £925,000, 10% within the next band up to £1.5 million and 12% over that.
For additional property, such as buy to let or second homes, there is now a 5% surcharge applied to all bands.
SDLT is charged at 15 per cent on interests in residential dwellings costing more than £500,000 purchased by certain non-natural persons. This broadly includes bodies corporate, for example companies, collective investment schemes and all partnerships with one or more members who are either a body corporate or a collective investment scheme. There are exclusions for companies acting in their capacity as trustees for a settlement and property developers who meet certain conditions.
If you exchanged contracts before the higher rate charge came into force on 21 March 2012, the 5 per cent rate will apply. This only applies where the contract is unconditional and unaltered on or after 21 March 2012.
If the property is in an area designated by the government as 'disadvantaged' a higher threshold of £150,000 applies for residential properties.