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Stamp duty on a £250,000 house is £0 for first-time buyers or £2,500 for home movers.
Stamp Duty Summary
| Buyer Type | Stamp Duty | Effective Rate |
|---|---|---|
| First-time buyer | £0 | 0% |
| Home mover | £2,500 | 1.0% |
| Second home/BTL | £10,000 | 4.0% |
How Stamp Duty is Calculated
Home Movers (Standard Rates)
| Band | Rate | Taxable Amount | Tax |
|---|---|---|---|
| £0 - £125,000 | 0% | £125,000 | £0 |
| £125,001 - £250,000 | 2% | £125,000 | £2,500 |
| Total | £2,500 |
First-Time Buyers
| Band | Rate | Taxable Amount | Tax |
|---|---|---|---|
| £0 - £425,000 | 0% | £250,000 | £0 |
| Total | £0 |
Second Home / Buy-to-Let (3% Surcharge)
| Band | Rate | Taxable Amount | Tax |
|---|---|---|---|
| £0 - £125,000 | 3% | £125,000 | £3,750 |
| £125,001 - £250,000 | 5% | £125,000 | £6,250 |
| Total | £10,000 |
Total Purchase Costs at £250K
| Cost | First-Time Buyer | Home Mover |
|---|---|---|
| House price | £250,000 | £250,000 |
| Deposit (10%) | £25,000 | £25,000 |
| Stamp duty | £0 | £2,500 |
| Solicitor | £1,600 | £1,600 |
| Survey | £450 | £450 |
| Total upfront | £27,050 | £29,550 |
When to Pay Stamp Duty
- Due: Within 14 days of completion
- Who pays: Usually handled by your solicitor
- Payment method: Electronic transfer to HMRC
- Late payment: Interest and penalties apply
First-Time Buyer Rules
To qualify for first-time buyer relief:
- Never owned property in the UK or abroad
- Property price up to £625,000
- Full relief up to £425,000
- 5% on portion between £425,001-£625,000
- The property must be your main residence
Joint purchases: All buyers must be first-time buyers to qualify.
Related Guides
Sources
- HM Revenue & Customs. “Income Tax Rates and Personal Allowances.” gov.uk/income-tax-rates
- Office for National Statistics. “UK Statistical Data and Analysis.” ons.gov.uk
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