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Stamp duty calculation - conflicting numbers

FTB21
FTB21 Posts: 15 Forumite
10 Posts Name Dropper
in House buying, renting & selling
Hello

Im working on the assumption that my purchase will not make the SD holiday, so trying to work out what might be payable, but getting conflicting results.
I'm FTB, in London, price £525k

I can post links at the moment but 
knightfrank co uk / stamp-duty-calculator - £26,750
kfh co uk / resources/buyers/stamp-duty-calculator - £16,250

Which one is correct?

Thanks

Comments

  • beebop1
    beebop1 Posts: 33 Forumite
    Fourth Anniversary 10 Posts Name Dropper
    Use the gov one
    https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
  • JGB1955
    JGB1955 Posts: 4,004 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    edited 12 January 2021 at 6:10PM
    £16,250 according to Stamp Duty Land Tax: Residential property rates - GOV.UK (www.gov.uk)
    Knight Frank are correct if you are NOT a UK resident.
    #2 Saving for Christmas 2024 - £1 a day challenge. £325 of £366
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    FTB21 said:
    knightfrank co uk / stamp-duty-calculator - £26,750
    You must be choosing the wrong options - £16,250 for me.
  • grumiofoundation
    grumiofoundation Posts: 3,051 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    edited 12 January 2021 at 6:14PM
    FTB21 said:
    Hello

    Im working on the assumption that my purchase will not make the SD holiday, so trying to work out what might be payable, but getting conflicting results.
    I'm FTB, in London, price £525k

    I can post links at the moment but 
    knightfrank co uk / stamp-duty-calculator - £26,750
    kfh co uk / resources/buyers/stamp-duty-calculator - £16,250

    Which one is correct?

    Thanks
    2nd one, £16,250

    Edit - the difference between £26750 and £16250 is 2% - the surcharge for overseas buyers.

    So I guess you ticked an option for being a non UK resident?
  • FTB21
    FTB21 Posts: 15 Forumite
    10 Posts Name Dropper
    DOH!

    Sorry I ticked "Property sale will complete on or after 1 April 2021 and the buyer is a non UK resident"
    Just read the first section of the answer and just glazed over the bit about being a non Uk resident!
    Thanks, yes I am a UK resident, phew, £16k is a lot to pay but glad it's not £27k
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Decent earner for the government, no wonder they don`t want a house price crash.
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