For a Purchase Price of £1,100,000 the Stamp Duty Land Tax (SDLT) due to be paid is £51,250 (an effective percentage of 4.66%), giving a total cost of £1,151,250.
This calculation assumes that the property is a Residential purchase that will be your sole residence and will attract the standard rate of SDLT. If this purchase is for a second home or other use then you may be required to pay the higher rate of SDLT. Please see the UK Government SDLT website for further information.
| Band | Amount in Band | Percentage | SDLT Due |
|---|---|---|---|
| Up to £250,000 | £250,000 | 0% | £0 |
| £250,000 to £925,000 | £675,000 | 5% | £33,750 |
| £925,000 to £1,500,000 | £175,000 | 10% | £17,500 |
| Above £1,500,000 | £0 | 12% | £0 |
| TOTAL | £1,100,000 | 4.66% (effective rate) | £51,250 |