What percentage is the stamp duty tax for buy-to-live properties vs. buy-to-let? And how much is the stamp duty tax on your first home?
This section offers information on how to calculate stamp duty for investment property and residential homes with our helpful stamp duty calculator 2024.
How to Calculate Stamp Duty
Stamp Duty can be calculated in two ways. You can either use a stamp duty calculator like the one below or follow a stamp duty formula and check a stamp duty table to calculate the costs yourself.
If you’re interested in using a stamp duty calculator to calculate your stamp duty fees quickly, the below buy to live and buy to let stamp duty calculators can help you calculate stamp duty more easily and accurately.
Simply enter the value of the property you’re looking to buy and select the type of purchase you’re making to select the correct rate of stamp duty. This way, you can get a quick and simple answer to ‘how much is stamp duty in the UK?’ with our stamp duty calculator for buy-to-let and residential purchases.
All you need to do is enter your property price, and we’ll generate your stamp duty prices for you!
Working Out Stamp Duty
If you’re asking what are the stamp duty thresholds in England and Northern Ireland, Wales, and Scotland, and wondering how much stamp duty I need to pay as a buy-to-let investor, this section will help you.
As mentioned above, stamp duty rates differ across different parts of the UK and they are indeed referred to in different terms as well. Therefore, the residential and buy-to-let stamp duty calculator for, say, England and Wales will give you different tax rates, so it’s important to know which rates apply to you.
Keep reading for information on the different thresholds for stamp duty in the UK, with helpful tables displaying the current rate of SDLT.
Alternatively, if you’re looking for a quick answer to how much tax you are liable to pay on investment property, take a look at our buy-to-let stamp duty calculator.
What Is the Stamp Duty Threshold 2024?
Across the UK, the threshold for paying stamp duty on investment property purchases or buy-to-live second home purchases differs from that of a main home.
For buy to live properties in England and Northern Ireland, the threshold for paying stamp duty is £250,000 for non-first-time buyers, after which amount buyers will be required to pay a stamp duty fee of at least 3%.
However, for first-time buyers, stamp duty does not have to be paid on purchases below £425,000 with a discounted rate of 5% on the portion £425,001 to £625,000, thanks to first-time buyer relief.
For buy-to-let, the exemption threshold is £40,000, with the percentage of stamp duty owed increasing in conjunction with the property’s value.
Stamp duty for investment property or an additional property of residence is payable once its value hits or exceeds the £250,000 mark, beginning at a rate of 3% and extending to a rate of 15% for properties with a value of over £1.5 million.