For a Purchase Price of £525,000 the Stamp Duty Land Tax (SDLT) due to be paid is £16,250 (an effective percentage of 3.10%), giving a total cost of £541,250.
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 £125,000 | £125,000 | 0% | £0 |
| £125,000 to £250,000 | £125,000 | 2% | £2,500 |
| £250,000 to £925,000 | £275,000 | 5% | £13,750 |
| £925,000 to £1,500,000 | £0 | 10% | £0 |
| Above £1,500,000 | £0 | 12% | £0 |
| TOTAL | £525,000 | 3.10% (effective rate) | £16,250 |