Stamp Duty on a £325,000 Property

325k stamp dutyHow much stamp duty is payable when you buy a property costing £325,000? (Updated September 2022)

If you are buying a property in the UK then you probably know that you will need to pay stamp duty on the transaction when the purchase completes. The payment is usually made through your solicitor no later than 14 days after completion.

The amount of stamp duty that is payable depends on the purchase price for the property as well as whether this is the only property that you will own at the point of the house purchase.

If the property is your only or main residence then you will pay standard stamp duty and this is also true if you own multiple properties but you are replacing your main residence with this purchase.

The amount of stamp duty you will need to pay in this instance is £3,750.

If you are buying your first property then you may be eligible for first time buyer’s stamp duty relief which means that you will not have to pay any stamp duty on the purchase.

If the property that you are buying is a second or subsequent purchase for either purchaser (if you are purchasing as a couple) then you will need to pay a higher rate of stamp duty which works out at an additional 3% of the whole purchase price.

This gives a total amount of stamp duty payable on ‘second homes’ of £13,500, a serious increase on the standard amount that would be payable.

If you are confused as to whether you would have to pay the higher amount of stamp duty then you should contact your solicitor who will be able to advise you.

You can also check the different amounts of stamp duty that you would pay on different purchase prices by entering the purchase price in the stamp duty calculator.

These figures do not take into account any temporary suspension of stamp duty that may be in force.
Stamp Duty on a £325,000 Property

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