Each rate applies only to the part of the price within its band, much like income tax.
Current bands
| Portion of the price | Rate |
|---|---|
| Up to £125,000 | 0% |
| £125,001 to £250,000 | 2% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
| Above £1,500,000 | 12% |
Example: a £300,000 home
£5,000
Show workings
- 0% on £125,000 (£0 – £125,000) = £0
- 2% on £125,000 (£125,000 – £250,000) = £2,500
- 5% on £50,000 (£250,000 – £300,000) = £2,500
Example: a £450,000 home
£12,500
Show workings
- 0% on £125,000 (£0 – £125,000) = £0
- 2% on £125,000 (£125,000 – £250,000) = £2,500
- 5% on £200,000 (£250,000 – £450,000) = £10,000
Who pays standard rates?
- You are buying your main residence
- You are not claiming first-time buyer relief (or the price is too high for it)
- You won't own another home when the purchase completes
- Every buyer meets the SDLT residence test
If any of these don't apply, higher or different rates may be due. Scotland and Wales have their own taxes: see our Scotland and Wales guides.