| Brackets | Rate | Duty |
|---|---|---|
| £0-£500,000 | 0% | |
| £500,001-£925,000k | 5% | |
| £925,001-£1.5m | 10% | |
| £1.5m+ | 12% |
| Brackets | Rate | Duty |
|---|---|---|
| £0-£180,000 | 0% | |
| £180,001-£250k | 0% | |
| £250,001-£400k | 5% | |
| £400,001-£750k | 7.5% | |
| £750,001-£1.5m | 10% | |
| £1.5m+ | 12% |
| Brackets | Rate | Duty |
|---|---|---|
| £0-£250k | 0% | |
| £250,001-£325k | 5% | |
| £325,001-£750k | 10% | |
| £750,000+ | 12% |
| Brackets | Rate | Duty |
|---|---|---|
| £0-£250k | 0% | |
| £250,001-£325k | 5% | |
| £325,001-£750k | 10% | |
| £750,000+ | 12% |
New temporary changes to Stamp Duty Land Tax in England and Northern Ireland
From 8 July, the new Stamp Duty Land Tax (SDLT) threshold of £500,000 will apply and will run until 31 March 2021. This means any buyer purchasing a primary residential property between 8 July 2020 and 31 March 2021, up to the value of £500,000, will be exempt from paying Stamp Duty.
Depending on your circumstance, the tax thresholds change, for example the price of the property and whether you are buying an additional property, will impact the amount of tax you pay.
On purchases over the £500,000 threshold, buyers will pay a 5% SDLT on the portion from £500,001 to £925,000, 10% on the portion from £925,001 to £1.5 million and 12% on any portion over £1.5 million.
View a selection of homes under £925,000
Second homes
When it comes to purchasing a second home, the higher additional rates remains with a 3% higher rate on top of the new revised standards. So, if you are purchasing a holiday home up to the threshold value of £500,000, you will pay 3% SDLT. Those buying a second home over the threshold with pay 8% on the portion from £500,001 to £925,000, 13% on the portion from £925,001 to £1.5 million, and 15% on the remaining portion over £1.5 million.
Visit gov.uk for more information
Leasehold sales and transfers
On new leasehold sales and transfers, the nil rate band which applies to the net present value of any rents payable for residential property is also increased to £500,000 until the end of March next year. A SDLT of 1% will be charged on any net present value of any rent over the threshold.
Residential properties
Companies purchasing residential property under the £500,000 threshold will also be exempt from paying SDLT. In addition, companies that buy residential property of any value that meet the relief criteria from the corporate 15% SDLT will also benefit from the change made.
From 1 April 2021, the SDLT holiday will come to an end and the SDLT regulations will revert to what they were before these temporary changes were announced.
As there are many different types of stamp duty tax, we have created a stamp duty calculator to help you work out how much you will have to pay for the property you buy. Simply fill out the purchase price and see what your tax will be.
New temporary changes to Land Transaction Tax in Wales
Land Transaction Tax (LTT) is payable when you buy or lease a building or land over a certain price in Wales. From 27 July, no tax is paid on the first £250,000 of a property, however, it increases to 5% up to £400,000, 7.5% up to £750,000, 10% up to £1,500,000 with any amount thereafter taxed at 12%. This will apply and will run until 31 March 2021.
A 3% surcharge applies to all transactions involving the purchase of an additional property. This includes second homes and buy-to-let investments. The surcharge applies to the full purchase price above an initial threshold of £40,000.
Specific first-time buyer relief is not currently available under the LTT system.
When you buy a residential property (freehold or leasehold) on or after 27 July, the following rates will apply to the portion of the price you pay in each band.
LTT does not apply to rents payable under a lease for residential property.
When you buy a residential property and you already own one or more residential properties you may need to pay the higher residential rates.
If you are replacing your main residence, the higher rates may not apply.
New temporary changes to Land and Buildings Transaction Tax in Scotland
Land and Buildings Transaction Tax (LBTT) requires home buyers to pay tax on amounts between bands, as opposed to the full purchase price of a property.
LBTT rates in Scotland are different to the taxation rates in the rest of the UK. The following changes have been made as of 15 July and will run and apply until 31 March 2021.
If purchasing your primary property, the first £250,000 will be exempt from tax. Between £250,001 and £325,000 a buyer will pay 5% LBTT, then 10% on the amount between £325,001 and £750,000 with any amount thereafter taxed at 12%.
For transactions where the purchase price is above £250,000, the rates that usually apply remain unchanged.
Since 30 June 2018, first-time buyers in Scotland have benefited from a relief on LBTT. This raises the zero-tax threshold for first-time buyers from £145,000 to £175,000.
To find out how much you will be required to pay for your new home, simply fill out the form on our Stamp Duty Calculator, selecting where you are buying the property from the dropdown of options.
Stamp Duty FAQs
How do I pay Stamp Duty?
Your solicitor will usually deal with your Stamp Duty return and any related payments, although this can be done yourself. The most important thing is that your Stamp Duty is submitted and paid on time.
When do I pay Stamp Duty?
This is an important question, and it is crucial to know that wherever in the UK you’re buying a property, you have 30 days from the date you of competition to pay the full stamp duty fee. If you take longer, you will be faced with a fixed penalty, and you will pay a tax-based penalty as well as the fixed penalty. It is really important that you pay your Stamp Duty fee on time.
Can I add Stamp Duty to my mortgage?
This mainly depends on your personal circumstances. It is best that you don’t add it to your mortgage, however, many people do as they have to. Adding the Stamp Duty fee to your mortgage will essentially mean that you need to borrow more when your mortgage is being taken out. You will use your ‘extra’ deposit money to pay the Stamp Duty.
I’m purchasing a second home, how much Stamp Duty do I need to pay?
Buyers of additional residential properties, this includes second homes and also buy-to-let properties, will be required to pay a different percentage. Use our calculator above to find out more.
FINE & COUNTRY LIFESTYLE
DISCOVER MORE ABOUT FINE & COUNTRY
OUR DIGITAL FRONT DOOR IS STILL OPEN
While we are all protecting our communities and respecting social-distancing measures by closing many of our offices around the world, our digital front door is still open.
We still carry out virtual viewings and valuations.
Discover more »
SELLING YOUR PROPERTY
Selling your home is one of the most important decisions you make; your home is both a financial and emotional investment. Find out how we can help »
TAKE THEIR WORD FOR IT
An overwhelming majority of those who had used Fine & Country would recommend our services to a family member or friend, according to our most recent survey taken by members of the public.
To achieve 99.48% positive feedback is a privilege and we will endeavour to maintain this result. We are dedicated to offering the best possible services to every customer, whether buyer or seller, from beginning to end.
INDEPENDENT EXPERTISE
Every Fine & Country agent is a highly proficient and professional independent estate agent, operating to strict codes of conduct and dedicated to you. They will assist, advise and inform you through each stage of the property transaction.
GLOBAL EXPOSURE
With offices in over 300 locations worldwide we combine the widespread exposure of the international marketplace with national marketing campaigns and local expertise and knowledge of carefully selected independent property professionals.
UNIQUE MARKETING APPROACH
People buy as much into lifestyle of a property and its location as they do the bricks and mortar. We utilize sophisticated, intelligent and creative marketing that provides the type of information buyers would never normally see with other agents.
PARK LANE OFFICE
Access the lucrative London and international investor market from our prestigious Park Lane showrooms at 121 Park Lane, Mayfair. Our showrooms in London are amongst the very best placed in Europe, attracting clients from all over the world.
MULTI-AWARD WINNING
Our consistent efforts to offer innovative marketing combined with a high level of service have been recognised by the industry for an astounding fifth year in a row, winning Best International Real Estate Agency Marketing at the International Residential Property Awards.
Independent customer reviews
Lynda Simpson said:
Frances had a lovely friendly approach but was also very professional. She kept both sides informed on a regular basis and was always positive despite selling in a very difficult y... Read full review
Review Added: Jan 18th, 2021Hannah said:
We bought a house from Guy Simmons at Fine and Country at the end of 2020. He clearly knew his stuff about the process and the local area. He was extremely helpful and very effici... Read full review
Review Added: Jan 12th, 2021Katie Owen said:
Excellent customer services. We would not hesitate to recommend James and his team for all their hard work in the purchase of our new home. James definitely went above and beyond... Read full review
Review Added: Jan 6th, 2021Philip Orford said:
We were so pleased with every aspect of the sale of our house 6 weeks from the 1st day of marketing which was incredible to actual completion. Halina and Richard were on hand 24\/7... Read full review
Review Added: Jan 2nd, 2021
OVER 300 LOCATIONS WORLDWIDE
Our International Network
Connecting offices on over 300 locations worldwide, our referral system combines local knowledge and expertise with an international network to find the right buyer for you wherever they are, at the same time as finding you your ideal next move
United Kingdom
France
Hungary
Cyprus
Germany
Spain
Portugal
Mauritius
Hong Kong
Namibia
Nigeria
South Africa
Australia
Florida
Zimbabwe
Our International Websites
FINE & COUNTRY SERVICES
FINE & COUNTRY
INTERIOR DESIGN
Access Fine & Country Interior Design to put your property ahead and make it stand out. With expert advice from some of London’s best stylists and designers we will make sure it makes a statement. Or if you’re purchasing with us, let F&C ID help make your new house feel like home by helping you find the very best specialists and designers for property refurbishment. Find out more »
FINE & COUNTRY
FOREIGN EXCHANGE
We have partnered with Rational FX, one of the world’s leading foreign exchange specialists to provide private and tailored currency services for all of our clients buying and selling luxury property around the world. Find out how we can help »
BUYING AGENT SERVICE
We understand that your time is precious, so save the time, money and stress of searching for a property with a buying agent. Also giving you access to off-market and discreetly marketed properties.
MEDIA CENTRE
Our internal Media Centre is a team of experienced press relations managers and copy writers dedicated to liaising with newspapers, magazines and other media outlets to gain extensive coverage for our properties in national and local media.
FINE & COUNTRY PUBLICATIONS
THE FINE & COUNTRY FOUNDATION
The Fine & Country Foundation is dedicated to supporting and funding homeless causes in the UK and overseas. Fine & Country offices organise a range of fundraising events for you to get involved in and/ or support. Find out more about our work here. Read more »
*Please, note: for security reasons, the maps on this website do not provide the exact location of the property and they are provided solely as an indication of area.