This covers second homes, buy-to-let and holiday homes. Homes you own anywhere in the world count, and so do homes owned by your spouse or civil partner.
Higher rates
| Portion of the price | Rate |
|---|---|
| Up to £125,000 | 5% |
| £125,001 to £250,000 | 7% |
| £250,001 to £925,000 | 10% |
| £925,001 to £1,500,000 | 15% |
| Above £1,500,000 | 17% |
Higher rates don't apply to properties under £40,000.
Example: a £300,000 buy-to-let
£20,000
Show workings
- 5% on £125,000 (£0 – £125,000) = £6,250
- 7% on £125,000 (£125,000 – £250,000) = £8,750
- 10% on £50,000 (£250,000 – £300,000) = £5,000
At standard rates, the same purchase would be £5,000.
Replacing your main home
If you are moving and have sold your previous main home by completion, the higher rates don't apply. If you still own it on completion day, you usually pay the higher rates now, then claim the extra back if you sell your previous main home within 36 months. The refund isn't automatic: you have to apply. See stamp duty refunds.
When the higher rates don't apply
- You'll only own one home after completion
- You are replacing your main home and the old one has been sold
- The property is non-residential or genuinely mixed-use
Non-UK residents pay a further 2%, so a total of 7 percentage points on top of standard rates.