Stamp Duty Calculator for properties in Newcastle & the North East

Stamp Duty Calculator

Bird House Properties stamp duty calculator will show you all of the costs you'll incurr due to stamp duty.

Purchase Price (£) I'm a first time buyer Property is a buy-to-let or second home Buyer is a non-UK resident

How Much Stamp Duty Will You Pay?

Our Stamp Duty Calculator delivers an instant and accurate result, by applying the latest rates to the relevant tax band. Learn how much you will need to pay for a property purchase in Newcastle upon Tyne and the North East. We update our calculator regularly to reflect the changing rates and variables applied to the calculation. The calculator includes different options regarding the different situations that may apply to you, such as first-time buyer, buying an additional property as either second home or buy to let, and you can also calculate the cost for a non-UK resident. The calculator has various options and filters adjustable for your situation. It is a useful tool for people who are:

First-time buyers,
Moving up the property ladder,
Buying an additional property either as a second home or a buy to let

It even calculates the rates for non-UK Residents.

What is Stamp Duty?

When you buy property in England over a certain price you have to pay Stamp Duty Land Tax (SDLT). Stamp Duty is taxed using different rates depending on the property purchase price. This tax is divided into different bands with different rates; the higher the price, the higher the band the property will belong to.

When do you pay Stamp Duty?

Not all properties pay this tax. You have to pay Stamp Duty if the property value is £125k or more, and you have to pay within 14 days after the purchase is made effective. As solicitors usually submit SDLT returns, this generally doesn’t have an impact on individuals. However, buyers should still be aware of this 14 day payment period.

What are the Stamp Duty rates?

Stamp Duty rates have now reverted to their previous status before the pandemic. The table below details the different rates that apply from October 2021.

Tax Band	Normal Rate	Additional Property
Less than £125k	0%	3%
From £125k to £250k	2%	5%
From £250k to £925k	5%	8%
From £925k to £1.5m	10%	13%
Over £1.5m	12%	15%

* If the value of the additional property is below £40k a 0% tax will apply.

How much is Stamp Duty for first-time buyers?

If you have never owned a property and you are buying your main residence, you may qualify as a first-time buyer. If you are a first-time buyer in England and the property price is below £300,000 you won’t need to pay the SDLT. If the property is between £300,001 and £500,000, you’ll pay SDLT at the relevant rate of 5%.

Finally, if the property’s value is over £500,000, standard rates will apply and you won’t qualify for first-time buyer’s relief.

If you are looking to buy your new home we have the best selection of properties for sale in Newcastle. Please feel free to reach out to our team if you have questions about buying property, mortgages, or conveyancing.

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