Stamp Duty Land Tax applies in England and Northern Ireland: nothing on the first £125,000 of a home's price, 2% to £250,000, 5% to £925,000 and higher rates beyond. First-time buyers pay nothing up to £300,000 on homes costing up to £500,000. Additional properties carry a 5% surcharge on every band. Scotland (LBTT) and Wales (LTT) run their own bands and rates.
Because the tax is charged in slices, moving £1 over a threshold does not re-price the whole purchase, but the surcharge rules and first-time buyer conditions catch many buyers out. Get your exact figure for any UK nation with the Stamp Duty Calculator.
A home mover buying at £350,000 in England pays nothing on the first £125,000, 2% on the next £125,000 (£2,500) and 5% on the final £100,000 (£5,000): £7,500 in total. A first-time buyer at the same price pays only £2,500, and a landlord buying it as a second property pays £25,000 once the 5% surcharge stacks on every band.
