Download Our Free Stamp Duty Calculator App!
25th Apr, 2017
Do you need help to work out what Stamp Duty amount you’re due to pay? Well we here at The Personal Agent have created a free Stamp Duty Calculator App just for that, compatible with iPhones and iPads. Our calculator makes it quick and easy for you to work out what amount you owe, simply type in the value of your property, select whether it is your main or secondary residence and let it do the work.
New 2016 Stamp Duty Rules
With the rules introduced from April 2016 you don’t just pay a percentage on the value of your home that falls within your tax band. With the new rules you will pay that percentage in addition to the percentage of each band your house falls under.
So for instance, a home worth £255,000 will mean that you pay 5% on the value between £250,001 – £255,000 (£250) as well as 2% on the amount between £125,001 – £250,000 (£2,500) before combining them for your total amount of Stamp Duty Land Tax your due to pay, which in this case is £2,750.
Buy-to-Let and Second Homes
Furthermore if the property you’re purchasing is not your main residence, such as a buy-to-let, second home or holiday home, then an additional 3% will be added to each tax band.
Sound complicated? It needn’t be with our Stamp Duty Calculator App, available now on the App Store and Google Play.