Stamp duty on £600,000 by buyer and nation
| Home mover | First-time buyer | Additional property | |
|---|---|---|---|
| England and Northern Ireland (SDLT) | £20,000 | £20,000 | £50,000 |
| Scotland (LBTT) | £33,350 | £32,750 | £81,350 |
| Wales (LTT) | £25,500 | £25,500 | £54,950 |
What is specific to a £600,000 purchase
- England and Northern Ireland (SDLT): the top of the price falls in the 5% band, with £350,000 of the price above £250,000.
- Scotland (LBTT): the top of the price falls in the 10% band, with £275,000 of the price above £325,000.
- Wales (LTT): the top of the price falls in the 7.5% band, with £200,000 of the price above £400,000.
- For a home mover, England and Northern Ireland is the cheapest nation at this price and Scotland the dearest, £13,350 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 £350,000 = £17,500
- Total: £20,000
Additional property: the standard £20,000 plus 5% of the whole price (£30,000) = £50,000.
Scotland and Wales
- Scotland (LBTT): £33,350 for a home mover, £32,750 for a first-time buyer and £81,350 with the 8% Additional Dwelling Supplement.
- Wales (LTT): £25,500 at the main rates (also for first-time buyers) and £54,950 at the higher rates for an additional property.
Frequently asked questions
How much is stamp duty on £600,000?
£20,000 in England and Northern Ireland for a home mover, £20,000 for a first-time buyer and £50,000 for an additional property.
How much stamp duty on £600,000 for a first-time buyer?
£20,000 in England and Northern Ireland: the relief only applies to homes up to £500,000.