Second Home Stamp Duty Calculator

Second home stamp duty calculatorIf you want to work out the amount of stamp duty payable on a second property purchase where you already own a property and the higher rates are due, then you can work this out below.

The Chancellor of the Exchequer introduced and additional 3% stamp duty charge for those people who are buying a second (or subsequent) home to raise money to help with more houseĀ  building for the country. This did make it quite confusing to work out the amount of stamp duty payable.

The aim of the increased amount of stamp duty was to slightly discourage buy to let purchasers so that more properties were available for first time buyers, who tended to be competition for the same types of properties.

The rules about whether you need to pay the extra stamp duty can be quite confusing particularly if you have some very individual circumstances so you really need to consult your solicitor if you are not sure if you are liable to pay the extra amount or not. In general, if you already own a property, whether in the UK or abroad, then you are liable to pay the extra amount on any subsequent property purchase.

Use the second home stamp duty calculator below to work out how much is due according to the purchase price of the property. Enter the amount of the purchase price and you will see how much you need to pay in stamp duty.

You can also check out our stamp duty calculator page to see what the stamp duty would be on your main residence where the additional amount is not due.

It can make a huge difference in the amount of stamp duty payable, particularly on higher value properties, depending on whether it is classed as a main residence purchase (or replacement) or a second home purchase.

You can also check out the archive on news articles that are relevant to a second property purchase.

Second Home Stamp Duty Calculator

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to top