How Much Stamp Duty on £450k ?

£450k stamp dutyHow much stamp duty is there to pay on a house worth £450,000? (updated September 2022)

If you are thinking of buying a property worth £450,000 then you will probably want to know how much stamp duty there is to pay on the purchase of that property.

According to the current rules where you do not need to pay any stamp duty under £250,000, the figure works out at £10,000 if the purchase is a first property or the replacement of your main residence.

If the house purchase is a second property then you may well be liable for the higher rate of tax on the purchase which will add 3% to the figure. In this case you may have to pay £23,500.

Stamp duty can form a large chunk of initial money that you need to spend on a property purchase, particularly for higher value properties, which, added to a deposit and the various fees that you need to pay, can mean that saving for a home becomes very difficult. Of course if you are already on the property ladder then paying stamp duty to move house can eat into any equity you may have gained with any previous purchase.

When you are looking at paying £10,000 in stamp duty just to move house, plus the other costs that are involved, it may be the case that you start considering the option of extending your current property if that is feasible. If it is not then you may have to restrict the budget of your future purchase.

Check out the stamp duty calculator for working out the amount of stamp duty payable on properties of different values.

Other Factors

If you are a first time buyer then you may be entitled to a reduced (or zero) rate of stamp duty on your property purchase – you can find details of that here.

These figures do not take into account any temporary suspension of stamp duty that may be in force.
How Much Stamp Duty on £450k ?

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