Stamp Duty on a £200k Property

How much stamp duty do you need to pay on a property worth £200,000? (Updated September 2022)

When you are buying a property in the UK, you need to pay Stamp Duty on the purchase price of the house/flat etc. This amount is paid to HMRC when the purchase completes (or shortly afterwards) and is calculated on the price that you pay for the property.

So let’s say you are buying a house or a flat and you are checking out the costs involved and you want to know how much stamp duty you need to pay for a purchase price of £200,000.

Main Residence

There are two different scenarios that could apply. Firstly there is a straightforward Stamp Duty cost that applies when the house is your main residence. For a house/flat that is worth £200,000 the amount of stamp duty you need to pay is zero. This is because the threshold for stamp duty was changed from £125,000 to £250,000 on 23 September 2022.

Second Property

However, if you already own a property and this is your second property (and you are not replacing your main residence), then you will need to pay a premium of 3% of the total purchase price. This means that for a second (or subsequent) property purchase the amount of Stamp Duty that you will need to pay is £6,000, so it is quite a big difference.

You may also need to pay an extra amount if you are an overseas buyer.

So as you can see, there is a significant difference in Stamp Duty costs between a first/main property and second property purchase at this level.

You can work out how much Stamp Duty you would need to pay on different purchase prices by checking out our Stamp Duty calculator (which has 2 options for a main residence or a second property).

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.
Stamp Duty on a £200k Property

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