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Stamp duty on a £2,000,000 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 £2,000,000 home in England or Northern Ireland is £153,750 if you are moving home (7.69% of the price). First-time buyer relief does not apply above £500,000, so first-time buyers pay the same £153,750. For an additional property it is £253,750. In Scotland LBTT is £198,350 and in Wales LTT is £171,750.

Stamp Duty Land Tax (SDLT)

£153,750

7.69% 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–£1,500,000
£57,500
12% on £1,500,000–£2,000,000
£60,000

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):£153,750.
  • First-time buyer (England & NI):£153,750.
  • Second home or buy-to-let (England & NI):£253,750.
  • Scotland (LBTT):£198,350; Wales (LTT): £171,750.

Stamp duty on £2,000,000 by buyer and nation

Home moverFirst-time buyerAdditional property
England and Northern Ireland (SDLT)£153,750£153,750£253,750
Scotland (LBTT)£198,350£197,750£358,350
Wales (LTT)£171,750£171,750£271,200

What is specific to a £2,000,000 purchase

  • England and Northern Ireland (SDLT): the top of the price falls in the 12% band, with £500,000 of the price above £1,500,000.
  • Scotland (LBTT): the top of the price falls in the 12% band, with £1,250,000 of the price above £750,000.
  • Wales (LTT): the top of the price falls in the 12% band, with £500,000 of the price above £1,500,000.
  • For a home mover, England and Northern Ireland is the cheapest nation at this price and Scotland the dearest, £44,600 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 £575,000 = £57,500
  • 12% on the next £500,000 = £60,000
  • Total: £153,750

Additional property: the standard £153,750 plus 5% of the whole price (£100,000) = £253,750.

Scotland and Wales

  • Scotland (LBTT): £198,350 for a home mover, £197,750 for a first-time buyer and £358,350 with the 8% Additional Dwelling Supplement.
  • Wales (LTT): £171,750 at the main rates (also for first-time buyers) and £271,200 at the higher rates for an additional property.

Frequently asked questions

How much is stamp duty on £2,000,000?

£153,750 in England and Northern Ireland for a home mover, £153,750 for a first-time buyer and £253,750 for an additional property.

How much stamp duty on £2,000,000 for a first-time buyer?

£153,750 in England and Northern Ireland: the relief only applies to homes up to £500,000.

Official sources