Tax rules change all the time and everyone's circumstances are different, so don't take anything on this page as advice! When it's time to buy, speak your solicitor for advice on stamp duty.

One more thing. There’s no stamp duty on main homes up to £500,000 until 31 March 2021. If you’re buying after that, you should calculate your stamp duty again.

How much stamp duty you'll pay on a £650,000 home will depend on a few things:

1. where in the UK you’re buying: England & Northern Ireland, Scotland, or Wales
2. if you’re buying an additional property (for example, to let out or use as a holiday home)
3. the value of the property

England & Northern Ireland SDLT (stamp duty) Rates

Stamp Duty Land Tax (most people just call it ‘stamp duty’) is calculated in ‘bands’, which means you pay different rates on different ‘portions’ of the £220,000 property price. Until 31 March 2021, there’s a stamp duty cut for main homes up to £500,000.

So, under the new rules for a property worth £650,000:

1. You'll pay 0% on the first £500,000 = £0
2. Then 5% on the next £150,000 = £7,500
3. And that's it!

Total stamp duty = £7,500

Scotland stamp duty rates (LBTT rate)

The equivalent of stamp duty in Scotland is the Land and Buildings Transaction Tax, or LBTT. It’s calculated in ‘bands’, which means you pay different rates on different ‘portions’ of the property price.

Here’s an example for a property worth £300,000:

1. You'll pay 0% on the first £145,000 = £0
2. Then 2% on the next £105,000 = £2,100
3. Finally, 5% on the last £50,000 = £2,500

Total LBTT = £4,600

Wales stamp duty rates (LTT Rate)

The equivalent of stamp duty in Wales is the Land Transaction Tax, or LTT. It’s calculated in ‘bands’, which means you pay different rates on different ‘portions’ of the property price.

Here’s an example for a property worth £300,000:

1. You'll pay 0% on the first £180,000 = £0
2. Then 3.5% on the next £70,000 = £2,450
3. Finally, 5% on the last £50,000 = £2,500

Total LBTT = £4,950

First time buyer & buy-to-let stamp duty

The amount of stamp duty you pay could change if you're a first time buyer, or if you're buying an additional property. As if it wasn't complicated enough, right? Read more about these stamp duty rates here.

Find out more about stamp duty

Who pays stamp duty? At what stage of the process do you actually pay it? And if you're buying with someone else, do you both have to pay? See our stamp duty FAQs for tips on these questions and more.