Stamp Duty on a £250,000 Property: Standard Purchase
Buying a £250,000 home as your only residential property in England or Northern Ireland, you pay £2,500 in Stamp Duty Land Tax. That is 1% of the price.
| 0% on £0 to £125,000 | £0 |
| 2% on £125,000 to £250,000 | £2,500 |
| Total Stamp Duty | £2,500 |
| Effective rate | 1% |
How this is worked out
Stamp Duty Land Tax is charged in slices: nothing up to £125,000, 2% from £125,001 to £250,000, 5% to £925,000, 10% to £1.5 million and 12% above.
Standard rates apply when the purchase leaves you owning one residential property. If you own another, you usually pay 5% on top of every band. First-time buyers pay nothing up to £300,000 when the price is £500,000 or less.
SDLT applies in England and Northern Ireland; Scotland and Wales have their own property taxes. Buyers who are not UK resident usually pay a further 2%.
Sources: Stamp Duty Land Tax: residential property rates (GOV.UK)