Question 1

What is stamp duty?

Accepted Answer

Stamp duty (SDLT in England and Northern Ireland, LBTT in Scotland, LTT in Wales) is a tax paid when you buy property or land above a certain threshold. The amount depends on the property price, location, whether you are a first-time buyer, and whether it is an additional property.

Question 2

How is stamp duty calculated?

Accepted Answer

Stamp duty is calculated on a tiered (marginal) basis, similar to income tax. You pay the rate for each portion of the property price that falls within each band, not a single rate on the whole amount. This calculator applies the correct bands for your selected region and situation.

Question 3

Do first-time buyers pay stamp duty?

Accepted Answer

In England and Northern Ireland, first-time buyers pay no SDLT on properties up to £425,000 (2024-2025 thresholds) and a reduced rate up to £625,000. Above £625,000, standard rates apply. Scotland and Wales have their own first-time buyer reliefs for their respective taxes.

Question 4

Is this stamp duty calculator accurate?

Accepted Answer

The calculator uses the published rate tables for each region. Rates and thresholds change over time, so always confirm the result against official government guidance before making financial decisions. The tool is for guidance only.

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