Learn about Stamp Duty savings & calculate costs
Discover all you need to know about Stamp Duty and how much you may need to pay when purchasing your new home by using our Stamp Duty payment calculator.
What is Stamp Duty?
Stamp Duty Land Tax, often referred to as SDLT or Stamp Duty, is a tax due on all property purchases, new or pre-owned.
Following the latest Government announcement, SDLT only applies to properties worth over £500,000 in England, applicable to both first-time buyers or if you have owned a home before. Meaning you could save up to £15,000 if you purchase your home before 30th June 2021. Following this, the limit will change to £250,000 until 30th September 2021.
If you’re buying a home in Wales costing more than £250,000, you’ll have to pay Land Transaction Tax (LTT) on your purchase. Please note tax rates differ between England and Wales.
How much will I have to pay?
Following the latest Government announcement, there is no stamp duty due on properties under £500,000. For properties over £500,000 the stamp duty due will range from 5% up to 12%. The tax in the rate bands increases with the overall property value at the time of purchase.
Rates on your first homeFirst-time buyers do not pay Stamp Duty on the first £500,000 of their home. Therefore, if you buy your first home for less than this, you will not pay any Stamp Duty.
If you buy your home for between £500,001 and £925,000, you’ll only pay 5% on that portion of the purchase price. The standard Stamp Duty rates apply to properties valued over £500,000. Use the calculator below to work out how much Stamp Duty you’ll need to pay on your new home.
Home mover rates
When you buy a property you're planning to live in (and you've owned a property before), you'll pay Stamp Duty on each portion of the property price, however you won’t pay any if you buy a residential property that costs less than £500,000 until 30th June 2021 in England. Use the calculator below to work out how much Stamp Duty you’ll need to pay on your new home.
Ways to help you move
Discover how easy and affordable moving into a new Redrow home can be when you use our range of incentives that are designed to help you move.