Stamp Duty Calculator 2024 UK Residential, Ltd Co & Buy to Lets

Use our 2024 Stamp Duty Calculator

Our stamp duty calculator will help you find out how much tax you’ll need to pay. It will also help will help you know if you have overpaid stamp duty.

The calculation is easy. With a few numbers, our tool will do the stamp duty calculation for you.

Once you have a figure, check against the workings of the conveyance solicitor before mistakes are made. Our qualified tax advice team here at Optimise can support your stamp duty calculation if you need a second opinion.

Is it possible to reduce SDLT for buy-to-let properties?

Yes – by checking for errors.

Here at Optimise, we have often found mistakes by conveyance solicitors when they perform stamp-duty calculations for our clients. Errors in SDLT could cost you tens of thousands of pounds, which could have been avoided if the calculations were checked first with the conveyance solicitor. Calculate the stamp duty yourself and then compare it against the identified by the conveyance solicitor. Do not be afraid to ask the conveyance solicitor how they have calculated SDLT for you.

Can I avoid paying stamp duty tax?

There are many ways to minimise this. One of the ways to reduce SDLT is to purchase mixed-use properties such as a flat above a shop. This transaction is referred to as mixed-use property, and the stamp duty is based on non-residential rates rather than residential, which is cheaper.

Another way to reduce SDLT is to buy multiple properties from the same seller. An SDLT tax relief called Multi-Dwellings-Relief (MDR) allows you to take the average property values. This could mean you pay lower Stamp-Duty-Land-Tax rates, reducing your liability when purchasing a buy-to-let property investment.

Please note the multi dwellings tax relief option mentioned above will be withdrawn on the 1st June in the UK.

Is it possible to get a stamp duty refund?

It is possible to reclaim stamp duty if you paid more than you should have. This overpayment may have been caused by the conveyance solicitor incorrectly calculating and paying it to HMRC within 14 days of the buy-to-let purchase. It is possible to reclaim overpaid SDLT, and we are on hand to help you.

It is important to speak with our property accountants when you want to understand more about stamp duty tax, as our calculator may not suit your individual situation.

 

Are you due a refund?

 

How to guide - UK HMRC Stamp Duty: A Stamp Duty Calculator for landlords buying Buy-to-Let Property. Free tax calculation tool for you to calculate SDLT. HMRC Stamp Duty Land Tax (SDLT) is a tax that you pay when you purchase a home, a second home or a buy-to-let residential property in your name or a limited company. People need to be aware the Stamp Duty is paid to HMRC via the conveyance solicitors within 14 days on a SDLT1 form. There are different rates of stamp duty that is paid plus a 2% foreign surcharge for foreign investors and a 3% high rate for second properties. Stamp duty may be overpaid to HMRC due to errors from solicitors. These overpayments may be reclaimed from HMRC. The reason for the overpayment is because you may have purchased a dilapidated property, a mixed-use property where multiple dwellings relief may have been claimed (MDR). A SDLT refund may be obtained from HMRC within 24 months. The calculation of stamp duty is made easy with our online tool



Commercial property purchases - how to calculate

Please note that the stamp duty calculator on this page is to help you work out the SDLT when buying a residential property. If you are buying commercial property you will need our commercial stamp duty calculator.

Higher rate tax for corporate bodies and non-natural persons

The term “non-natural persons” refers to legal entities such as companies, partnerships, or trusts, as opposed to individual human beings. The SDLT at the higher rate of 15% applies to residential properties purchased by the following entities:

Companies:

Companies incorporated in the UK or elsewhere, regardless of their type or size, are subject to a higher SDLT rate. This includes private limited companies, public limited companies, and foreign companies.

Collective Investment Schemes:

Collective Investment Schemes (CIS) are investment vehicles that pool funds from multiple investors for the purpose of investing in property. These schemes, which can be structured as authorized unit trusts, open-ended investment companies, or investment trusts, are liable for the 15% SDLT rate.

Partnerships:

Partnerships, including general partnerships and limited partnerships, are considered non-natural persons for the purpose of SDLT. If a partnership buys a residential property, a higher rate will be applicable.

Trustees:

Trustees purchasing residential properties are also subject to the 15% SDLT rate. Trusts can be created for various purposes, such as family wealth management or charitable endeavours, and trustees act on behalf of the trust.

Nominees:

A nominee is an entity or individual appointed to hold and manage property on behalf of another party. If a nominee acquires a residential property, they are subject to the higher SDLT rate.

The rationale behind the Higher SDLT Rate: The introduction of the higher SDLT rate for corporate bodies and non-natural persons was implemented to discourage the use of these entities for tax avoidance purposes. By subjecting such purchases to a higher tax rate, the government aims to ensure fairness in the housing market and deter the practice of purchasing high-value properties through these structures.

Please note that the stamp duty calculator on this page does not take the corporate bodies and non-natural persons: 15% rate into account.

FAQs

Calculator faqs and other questions you’re asking us

What is stamp duty?

Stamp Duty is a tax that may be payable when you buy property or land in England or Northern Ireland above a specified price threshold.

What is buy to let stamp duty in the UK?

An additional separate stamp duty rate is applied on top of the standard stamp duty for any property purchase. This means buy-to-let property incurs higher stamp duty compared to a typical residential purchase.

What is a SDLT calculator?

A Stamp Duty Land Tax calculator is an online tool designed to help you figure out how much stamp duty you'll owe when purchasing a property in the UK. You plug in variables like the property price, location, and whether it's your first home, and the calculator will give you an estimate of the tax due.

Are SDLT calculators accurate?

Generally speaking, SDLT calculators are pretty reliable for giving you a ballpark figure. However, they might not account for all the specifics of your situation. For example, there could be reliefs or exemptions you're eligible for that the calculator doesn't include. So, while it's a good starting point, it shouldn't replace professional advice.

How do I use the calculator?

Using an SDLT calculator is usually pretty straightforward. You'll be prompted to input key details like the property's purchase price, its location, and whether you're a first-time buyer or not. Some advanced calculators might also ask about additional properties you own or your intentions with the property (e.g., buy-to-let). Once you submit this info, the calculator will give you an estimate of your tax liability.

Where can I find a reliable calculator?

You can find SDLT calculators on various websites, including government sites, real estate agencies, and financial advice platforms. The HM Revenue & Customs (HMRC) website is a great starting point because you know the info is coming straight from the source.

When do you need to pay stamp duty tax by?

SDLT is paid to HMRC within 14 days of the house purchase, but conveyancing solicitors will take the money from you as part of the completion process.

Do I need to pay stamp duty for my holiday home?

It depends. Stamp duty is applied when buying residential or commercial properties and land throughout the UK. However, some holiday homes such as lodges or static caravans, where the property is purchased separately from the land it occupies, means stamp duty may not apply.

Can you pay stamp duty monthly?

Stamp duty in the UK (SDLT) is typically due to HM Revenue & Customs (HMRC) within 14 days of completion of the property purchase.
Any instalment arrangements that may be available, are subject to specific conditions and must be agreed upon with HMRC in advance.
We do not recommend considering installments without speaking to a qualified tax advisor.

Can I avoid paying stamp duty tax using an offshore company?

Although there may be legitimate reasons for using an offshore company for certain business practices, using one to avoid paying SDLT is not a legitimate means of tax planning and may lead to financial and legal consequences.

Are there different calculators for different types of property?

Yes! Specialised SDLT calculators exist for various property types and scenarios, like residential vs. commercial properties or freehold vs. leasehold. Use the one that aligns with your specific purchase to get the most accurate estimate.

Use our 2024 Stamp Duty Calculator

Our stamp duty calculator will help you find out how much tax you’ll need to pay. It will also help will help you know if you have overpaid stamp duty.

The calculation is easy. With a few numbers, our tool will do the stamp duty calculation for you.

Once you have a figure, check against the workings of the conveyance solicitor before mistakes are made. Our qualified tax advice team here at Optimise can support your stamp duty calculation if you need a second opinion.

Is it possible to reduce SDLT for buy-to-let properties?

Yes – by checking for errors.

Here at Optimise, we have often found mistakes by conveyance solicitors when they perform stamp-duty calculations for our clients. Errors in SDLT could cost you tens of thousands of pounds, which could have been avoided if the calculations were checked first with the conveyance solicitor. Calculate the stamp duty yourself and then compare it against the identified by the conveyance solicitor. Do not be afraid to ask the conveyance solicitor how they have calculated SDLT for you.

Can I avoid paying stamp duty tax?

There are many ways to minimise this. One of the ways to reduce SDLT is to purchase mixed-use properties such as a flat above a shop. This transaction is referred to as mixed-use property, and the stamp duty is based on non-residential rates rather than residential, which is cheaper.

Another way to reduce SDLT is to buy multiple properties from the same seller. An SDLT tax relief called Multi-Dwellings-Relief (MDR) allows you to take the average property values. This could mean you pay lower Stamp-Duty-Land-Tax rates, reducing your liability when purchasing a buy-to-let property investment.

Please note the multi dwellings tax relief option mentioned above will be withdrawn on the 1st June in the UK.

Is it possible to get a stamp duty refund?

It is possible to reclaim stamp duty if you paid more than you should have. This overpayment may have been caused by the conveyance solicitor incorrectly calculating and paying it to HMRC within 14 days of the buy-to-let purchase. It is possible to reclaim overpaid SDLT, and we are on hand to help you.

It is important to speak with our property accountants when you want to understand more about stamp duty tax, as our calculator may not suit your individual situation.

 

Are you due a refund?

 

How to guide - UK HMRC Stamp Duty: A Stamp Duty Calculator for landlords buying Buy-to-Let Property. Free tax calculation tool for you to calculate SDLT. HMRC Stamp Duty Land Tax (SDLT) is a tax that you pay when you purchase a home, a second home or a buy-to-let residential property in your name or a limited company. People need to be aware the Stamp Duty is paid to HMRC via the conveyance solicitors within 14 days on a SDLT1 form. There are different rates of stamp duty that is paid plus a 2% foreign surcharge for foreign investors and a 3% high rate for second properties. Stamp duty may be overpaid to HMRC due to errors from solicitors. These overpayments may be reclaimed from HMRC. The reason for the overpayment is because you may have purchased a dilapidated property, a mixed-use property where multiple dwellings relief may have been claimed (MDR). A SDLT refund may be obtained from HMRC within 24 months. The calculation of stamp duty is made easy with our online tool

Commercial property purchases - how to calculate

Please note that the stamp duty calculator on this page is to help you work out the SDLT when buying a residential property. If you are buying commercial property you will need our commercial stamp duty calculator.



Higher rate tax for corporate bodies and non-natural persons

The term “non-natural persons” refers to legal entities such as companies, partnerships, or trusts, as opposed to individual human beings. The SDLT at the higher rate of 15% applies to residential properties purchased by the following entities:

Companies:

Companies incorporated in the UK or elsewhere, regardless of their type or size, are subject to a higher SDLT rate. This includes private limited companies, public limited companies, and foreign companies.

Collective Investment Schemes:

Collective Investment Schemes (CIS) are investment vehicles that pool funds from multiple investors for the purpose of investing in property. These schemes, which can be structured as authorized unit trusts, open-ended investment companies, or investment trusts, are liable for the 15% SDLT rate.

Partnerships:

Partnerships, including general partnerships and limited partnerships, are considered non-natural persons for the purpose of SDLT. If a partnership buys a residential property, a higher rate will be applicable.

Trustees:

Trustees purchasing residential properties are also subject to the 15% SDLT rate. Trusts can be created for various purposes, such as family wealth management or charitable endeavours, and trustees act on behalf of the trust.

Nominees:

A nominee is an entity or individual appointed to hold and manage property on behalf of another party. If a nominee acquires a residential property, they are subject to the higher SDLT rate.

The rationale behind the Higher SDLT Rate: The introduction of the higher SDLT rate for corporate bodies and non-natural persons was implemented to discourage the use of these entities for tax avoidance purposes. By subjecting such purchases to a higher tax rate, the government aims to ensure fairness in the housing market and deter the practice of purchasing high-value properties through these structures.

Please note that the stamp duty calculator on this page does not take the corporate bodies and non-natural persons: 15% rate into account.

FAQs

Calculator faqs and other questions you’re asking us

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