Stamp duty on £175,000 by buyer and nation
| Home mover | First-time buyer | Additional property | |
|---|---|---|---|
| England and Northern Ireland (SDLT) | £1,000 | £0 | £9,750 |
| Scotland (LBTT) | £600 | £0 | £14,600 |
| Wales (LTT) | £0 | £0 | £8,750 |
What is specific to a £175,000 purchase
- England and Northern Ireland (SDLT): the top of the price falls in the 2% band, with £50,000 of the price above £125,000.
- Scotland (LBTT): the top of the price falls in the 2% band, with £30,000 of the price above £145,000.
- Wales (LTT): the top of the price falls inside the nil-rate band (no tax up to £225,000). The 6% band starts £50,000 higher, at £225,000.
- First-time buyers in England and NI pay nothing at this price: their nil-rate band reaches £300,000.
- For a home mover, Wales is the cheapest nation at this price and England and Northern Ireland the dearest, £1,000 apart.
How it is calculated (England and Northern Ireland)
- 0% on the first £125,000 = £0
- 2% on the next £50,000 = £1,000
- Total: £1,000
First-time buyer: 0% on the first £175,000 = £0. Total £0.
Additional property: the standard £1,000 plus 5% of the whole price (£8,750) = £9,750.
Scotland and Wales
- Scotland (LBTT): £600 for a home mover, £0 for a first-time buyer and £14,600 with the 8% Additional Dwelling Supplement.
- Wales (LTT): £0 at the main rates (also for first-time buyers) and £8,750 at the higher rates for an additional property.
Frequently asked questions
How much is stamp duty on £175,000?
£1,000 in England and Northern Ireland for a home mover, £0 for a first-time buyer and £9,750 for an additional property.
How much stamp duty on £175,000 for a first-time buyer?
£0 in England and Northern Ireland, £0 in Scotland and £0 in Wales, which has no first-time buyer relief.