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Stamp duty on a £1,000,000 house

Reviewed by ClearPayslip editorial teamUpdated on Methodology

Calculated with official data from Stamp Duty Land Tax: residential property rates (GOV.UK) · Higher rates of Stamp Duty Land Tax (HMRC) · +2

Short answer

Stamp duty on a £1,000,000 home in England or Northern Ireland is £43,750 if you are moving home (4.38% of the price). First-time buyer relief does not apply above £500,000, so first-time buyers pay the same £43,750. For an additional property it is £93,750. In Scotland LBTT is £78,350 and in Wales LTT is £61,750.

Stamp Duty Land Tax (SDLT)

£43,750

4.38% of the price

0% on £0–£125,000
£0
2% on £125,000–£250,000
£2,500
5% on £250,000–£925,000
£33,750
10% on £925,000–£1,000,000
£7,500

Residential purchase of a single dwelling. Excludes the 2% SDLT surcharge for non-UK residents, multiple dwellings and non-residential property. Not tax advice.

Key facts

  • Home mover (England & NI):£43,750.
  • First-time buyer (England & NI):£43,750.
  • Second home or buy-to-let (England & NI):£93,750.
  • Scotland (LBTT):£78,350; Wales (LTT): £61,750.

Stamp duty on £1,000,000 by buyer and nation

Home moverFirst-time buyerAdditional property
England and Northern Ireland (SDLT)£43,750£43,750£93,750
Scotland (LBTT)£78,350£77,750£158,350
Wales (LTT)£61,750£61,750£111,200

What is specific to a £1,000,000 purchase

  • England and Northern Ireland (SDLT): the top of the price falls in the 10% band, with £75,000 of the price above £925,000.
  • Scotland (LBTT): the top of the price falls in the 12% band, with £250,000 of the price above £750,000.
  • Wales (LTT): the top of the price falls in the 10% band, with £250,000 of the price above £750,000.
  • For a home mover, England and Northern Ireland is the cheapest nation at this price and Scotland the dearest, £34,600 apart.

How it is calculated (England and Northern Ireland)

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the next £675,000 = £33,750
  • 10% on the next £75,000 = £7,500
  • Total: £43,750

Additional property: the standard £43,750 plus 5% of the whole price (£50,000) = £93,750.

Scotland and Wales

  • Scotland (LBTT): £78,350 for a home mover, £77,750 for a first-time buyer and £158,350 with the 8% Additional Dwelling Supplement.
  • Wales (LTT): £61,750 at the main rates (also for first-time buyers) and £111,200 at the higher rates for an additional property.

Frequently asked questions

How much is stamp duty on £1,000,000?

£43,750 in England and Northern Ireland for a home mover, £43,750 for a first-time buyer and £93,750 for an additional property.

How much stamp duty on £1,000,000 for a first-time buyer?

£43,750 in England and Northern Ireland: the relief only applies to homes up to £500,000.

Official sources