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Stamp duty on a £1,250,000 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 £1,250,000 home in England or Northern Ireland is £68,750 if you are moving home (5.50% of the price). First-time buyer relief does not apply above £500,000, so first-time buyers pay the same £68,750. For an additional property it is £131,250. In Scotland LBTT is £108,350 and in Wales LTT is £86,750.

Stamp Duty Land Tax (SDLT)

£68,750

5.50% 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–£1,250,000
£32,500

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):£68,750.
  • First-time buyer (England & NI):£68,750.
  • Second home or buy-to-let (England & NI):£131,250.
  • Scotland (LBTT):£108,350; Wales (LTT): £86,750.

Stamp duty on £1,250,000 by buyer and nation

Home moverFirst-time buyerAdditional property
England and Northern Ireland (SDLT)£68,750£68,750£131,250
Scotland (LBTT)£108,350£107,750£208,350
Wales (LTT)£86,750£86,750£148,700

What is specific to a £1,250,000 purchase

  • England and Northern Ireland (SDLT): the top of the price falls in the 10% band, with £325,000 of the price above £925,000.
  • Scotland (LBTT): the top of the price falls in the 12% band, with £500,000 of the price above £750,000.
  • Wales (LTT): the top of the price falls in the 10% band, with £500,000 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, £39,600 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 £325,000 = £32,500
  • Total: £68,750

Additional property: the standard £68,750 plus 5% of the whole price (£62,500) = £131,250.

Scotland and Wales

  • Scotland (LBTT): £108,350 for a home mover, £107,750 for a first-time buyer and £208,350 with the 8% Additional Dwelling Supplement.
  • Wales (LTT): £86,750 at the main rates (also for first-time buyers) and £148,700 at the higher rates for an additional property.

Frequently asked questions

How much is stamp duty on £1,250,000?

£68,750 in England and Northern Ireland for a home mover, £68,750 for a first-time buyer and £131,250 for an additional property.

How much stamp duty on £1,250,000 for a first-time buyer?

£68,750 in England and Northern Ireland: the relief only applies to homes up to £500,000.

Official sources