Stamp duty on £650,000 by buyer and nation
| Home mover | First-time buyer | Additional property | |
|---|---|---|---|
| England and Northern Ireland (SDLT) | £22,500 | £22,500 | £55,000 |
| Scotland (LBTT) | £38,350 | £37,750 | £90,350 |
| Wales (LTT) | £29,250 | £29,250 | £61,200 |
What is specific to a £650,000 purchase
- England and Northern Ireland (SDLT): the top of the price falls in the 5% band, with £400,000 of the price above £250,000.
- Scotland (LBTT): the top of the price falls in the 10% band, with £325,000 of the price above £325,000.
- Wales (LTT): the top of the price falls in the 7.5% band, with £250,000 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, £15,850 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 £400,000 = £20,000
- Total: £22,500
Additional property: the standard £22,500 plus 5% of the whole price (£32,500) = £55,000.
Scotland and Wales
- Scotland (LBTT): £38,350 for a home mover, £37,750 for a first-time buyer and £90,350 with the 8% Additional Dwelling Supplement.
- Wales (LTT): £29,250 at the main rates (also for first-time buyers) and £61,200 at the higher rates for an additional property.
Frequently asked questions
How much is stamp duty on £650,000?
£22,500 in England and Northern Ireland for a home mover, £22,500 for a first-time buyer and £55,000 for an additional property.
How much stamp duty on £650,000 for a first-time buyer?
£22,500 in England and Northern Ireland: the relief only applies to homes up to £500,000.