How much stamp duty on a £1,200,000 property?

Stamp duty on a £1,200,000 property is £63,750 for home movers (5.31% effective rate). First-time buyers pay £63,750. Additional property buyers pay £123,750 including the 5% surcharge.

Do first-time buyers pay stamp duty on £1,200,000?

First-time buyer relief is not available on properties over £500,000. Standard rates apply: £63,750.

Stamp Duty on £1,200,000 Property

If you buy a £1,200,000 property in England or Northern Ireland, you will pay £63,750 in stamp duty land tax (5.31% effective rate). Updated with April 2025 HMRC rates.

Home mover

£63,750

5.31% · Standard rates

First-time buyer

£63,750

5.31% · No relief (over £500k)

Additional property

£123,750

10.31% · +5% surcharge

SDLT band breakdown on £1,200,000

Home mover

£0 – £125,000 (0%)£0

£125,000 – £250,000 (2%)£2,500

£250,000 – £925,000 (5%)£33,750

£925,000 – £1,200,000 (10%)£27,500

Total£63,750

Total purchase cost

Property price£1,200,000

Stamp duty£63,750

Est. legal fees~£4,100

Est. survey~£500

Estimated total£1,268,350

Stamp duty as % of price

Property 94.7%

SDLT 5.31%

Compare property prices

£700,000£25,000 £750,000£27,500 £800,000£30,000 £850,000£32,500 £900,000£35,000 £925,000£36,250

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