Question 1

How much stamp duty do I pay on a £950,000 house?

Accepted Answer

For a standard purchase in England or Northern Ireland, stamp duty (SDLT) on a £950,000 property is £38,750. This is an effective rate of 4.08%.

Question 2

Is there stamp duty relief for first-time buyers on a £950,000 property?

Accepted Answer

First-time buyer relief only applies to properties up to £625,000. On a £950,000 property, you would pay the standard rate of £38,750.

Question 3

What is stamp duty on a £950,000 second home?

Accepted Answer

For an additional property (second home or buy-to-let) at £950,000, stamp duty is £67,250. This includes the 3% surcharge on each band.

Question 4

When do I pay stamp duty on a £950,000 house?

Accepted Answer

Stamp duty must be paid within 14 days of completion. Your solicitor or conveyancer normally handles the payment and filing on your behalf.

Band	Rate	Taxable Amount	Tax
£1 – £125k	0%	£125,000	£0
£125k – £250k	2%	£125,000	£2,500
£250k – £925k	5%	£675,000	£33,750
£925k – £1.5m	10%	£25,000	£2,500
Total			£38,750

Stamp Duty on a £950,000 Property

SDLT Band Breakdown (Standard Purchase)