Calculate stamp duty costs for property purchases based on location, property value, and buyer status.
| Value Band | Rate | Amount | Tax |
|---|
Stamp Duty Land Tax (SDLT) is a tax paid when purchasing property or land in the UK. Similar taxes exist in many countries under different names, such as Transfer Duty in Australia or Deed Transfer Tax in some US states.
1. First Home Buyers: Many jurisdictions offer reduced rates or exemptions for first-time buyers
2. Low-Value Properties: Properties below a certain threshold may be exempt
3. Transfers Between Spouses: Often exempt from stamp duty
4. Inherited Properties: Not subject to stamp duty
5. Certain Types of Transactions: Some corporate reorganizations may be exempt
Key factors affecting stamp duty calculations:
Stamp duty is typically paid within 14-30 days of completing the property purchase, depending on the jurisdiction. Failure to pay on time can result in penalties and interest charges.
| Band | Rate |
|---|---|
| Up to £250,000 | 0% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1.5 million | 10% |
| Over £1.5 million | 12% |
An additional 3% surcharge applies to purchases of additional residential properties in the UK.
In England, first-time buyers pay:
• 0% on the first £425,000
• 5% on the portion from £425,001 to £625,000
No relief for properties over £625,000
• Australia: Rates vary by state, typically 3-5.5%
• USA: Typically 0.5-1% of property value
• Canada: Land transfer taxes vary by province
• India: Typically 5-7% of property value