Stamp Duty Calculators

Yazmina

Which of these is correct for a house purchased for £375k?

MSE:
You will have to pay £8,750.00 in stamp duty.
You pay no stamp duty on the first £125,000, then 2% on £125,000 to £250,000 and 5% above £250,000.

Gov.uk
Based on the rules from 1 April 2016
SDLT due (£)
Up to 125,000 3% 3,750
Above 125,000 and up to 250,000 5% 6,250
Above 250,000 and up to 925,000 8% 10,000

Total SDLT due
20,000

Surely gov.uk should have the correct info but the total seems remarkably high. It might include an assumption that I'm buying a second/third property (which I'm not) but it didn't ask that question.

Thanks.

Pixie5740

The second calculation from gov website includes the additional 3% SDLT for the purchase of second homes. Do you have a link to the page you were looking at?

Doozergirl

£20k is for a second property.

https://www.stampdutycalculator.org.uk

Yazmina

Thanks, I thought so. I started here

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

It didn't ask me whether this is my only property or not.

Pixie5740

One of the questions on that links is:

Will the purchase of the property result in owning two or more properties? and if you answer yes it asks:

Is the property being purchased replacing your main residence?

noh

Yazmina wrote: »

Thanks, I thought so. I started here

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

It didn't ask me whether this is my only property or not.

It does when I use it.
It is the sixth question

Additional residential properties

Will the purchase of the property result in owning two or more properties?

Pixie5740

Although strangely that question doesn't come up if you say you're jointly purchasing with some else....odd.

Yazmina

Right, I'll be buying with hubby so the gov.uk calculator assumes I'll be keeping my old flat :rotfl:
I wish.