How much stamp duty on a £1,000,000 property?

Stamp duty on a £1,000,000 property is £43,750 for home movers (4.38% effective rate). First-time buyers pay £43,750. Additional property buyers pay £93,750 including the 5% surcharge.

Do first-time buyers pay stamp duty on £1,000,000?

First-time buyer relief is not available on properties over £500,000. Standard rates apply: £43,750.

Stamp Duty on £1,000,000 Property

If you buy a £1,000,000 property in England or Northern Ireland, you will pay £43,750 in stamp duty land tax (4.38% effective rate). Updated with April 2025 HMRC rates.

Home mover

£43,750

4.38% · Standard rates

First-time buyer

£43,750

4.38% · No relief (over £500k)

Additional property

£93,750

9.38% · +5% surcharge

SDLT band breakdown on £1,000,000

Home mover

£0 – £125,000 (0%)£0

£125,000 – £250,000 (2%)£2,500

£250,000 – £925,000 (5%)£33,750

£925,000 – £1,000,000 (10%)£7,500

Total£43,750

Total purchase cost

Property price£1,000,000

Stamp duty£43,750

Est. legal fees~£3,500

Est. survey~£500

Estimated total£1,047,750

Stamp duty as % of price

Property 95.6%

SDLT 4.38%

Compare property prices

£500,000£15,000 £525,000£16,250 £550,000£17,500 £600,000£20,000 £625,000£21,250 £650,000£22,500

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