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What The Second Home Stamp Duty Calculator Works Out
- Total SDLT due: the standard England and Northern Ireland bands (0% to GBP 125,000, 2% to GBP 250,000, 5% to GBP 925,000, 10% to GBP 1.5 million, 12% above) with the 5% additional property surcharge added to every band. On a GBP 300,000 second home that is GBP 5,000 of standard SDLT plus GBP 15,000 surcharge, GBP 20,000 in total.
- Standard SDLT: what a main-home buyer would pay on the same price, so you can see how much of the bill is the surcharge.
- Surcharges: the extra from owning another property anywhere in the world (5%, up from 3% in October 2024) plus a further 2% for non-UK residents. Neither applies to purchases under GBP 40,000. Married couples and civil partners are treated as one unit, and companies pay the surcharge on all residential purchases.
- Refundable surcharge (advanced): replacing your main residence does not count as buying an additional property. If you complete on the new home before the old one sells, you pay the 5% up front and reclaim it from HMRC once the old home sells within 36 months. The 2% non-resident surcharge is not refunded this way.
- Expected monthly rent (advanced): turns the SDLT into months of gross rent so you can judge the drag on a rental investment. A GBP 20,000 bill at GBP 1,200 a month is nearly 17 months of rent before a penny of costs.
- Cash needed on completion (advanced): deposit (landlord mortgages usually require 25%) plus SDLT plus legal and other fees. The surcharge cannot be added to the mortgage, so it comes out of savings.
- Same purchase in Scotland and Wales (advanced): Scotland's Additional Dwelling Supplement is 8% of the full price on top of LBTT, and Wales applies a separate higher-rate schedule from 5% to 17%. Both are usually steeper than England's surcharge at the same price.
- Scope: this calculator covers England and Northern Ireland residential purchases and is a guide only, not tax advice.
Source and further reading: GOV.UK (HMRC): Stamp Duty Land Tax.