Use the Bentley Hurst stamp duty calculator to help you work out the actual cost of your property. If you’re buying a property in the UK, you need to pay the right Stamp Duty. The current stamp duty rates are 2% on property between £125,001 and £250,000, and this rises to reach a top rate of 12% on residential properties bought for over £1,500,001. If you’re buying a second home or an extra property that isn’t your main UK residence, then you may also be due to pay an additional 3% rate.
Stamp Duty Holiday
In temporary measures brought in last July to help boost homebuying during the pandemic, homebuyers were told that until April 2021 they did not need to pay stamp duty on the first £500,000 of a property's purchase price if buying a main residence.
Now, after intense pre-Budget speculation, the Chancellor has announced that the stamp duty holiday will continue until 30 June 2021. After that, the point at which you start paying stamp duty will be reduced to £250,000 – double the normal level – until the end of September. From October, stamp duty will return to normal, with the point at which you start paying set at £125,000.
Get an accurate idea of your costs by using our simple Stamp Duty Calculator.
Find out what you will be paying each month, using our Mortgage Calculator.