Calculate how much stamp duty you pay for a residential UK property both during and after the stamp duty holiday. You must complete your purchase between now and 31 March 2021 to be eligible for the stamp duty holiday.
Stamp Duty Land Tax, or SDLT, is a self-assessed tax payable by an individual or company purchasing property in England and Northern Ireland. It is a percentage based on a number of stamp duty tax slabs where the taxable amounts increase progressively from lower to higher slabs inaccordance to the property price.
As with the online stamp duty calculator, this is intended as a guide only. The results are calculated with reference to the tax slabs provided in HMRC.
If you are planning to buy a home for up to £500,000 you will not have to pay stamp duty. You have to pay stamp duty on any purchases above £500,000.
This "stamp duty holiday" will last until 31 March 2021. It's part of government plans to help the economy recover from coronavirus.
The stamp duty holiday ends on 31 March 2021. To know more about Stamp duty holiday, call us to talk with our advisors on 01604 439930 or fill the contact form.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up the repayments on your mortgage or other loans secured against it.
© George Dodds 2020