Key 2026/27 UK Tax Figures & Thresholds
- Personal Allowance: £12,570 tax-free allowance (tapers by £1 per £2 of income above £100,000; reaches £0 at £125,140). Source: GOV.UK
- Rest of UK Income Tax: Basic 20% (£12,571–£50,270), Higher 40% (£50,271–£125,140), Additional 45% (above £125,140).
- Scottish Income Tax: 6 bands from 19% Starter up to 48% Top Rate on earnings over £125,140. Source: Scottish Gov / HMRC
- Employee National Insurance (Class 1): Primary threshold £12,570/yr; 8% rate up to £50,270; 2% rate above £50,270. (UK-wide system). Source: HMRC
- Student Loan Repayment Thresholds: Plan 1 £26,900 (9%), Plan 2 £29,385 (9%), Plan 4 £33,795 (9%), Plan 5 £25,000 (9%), Postgraduate £21,000 (6%). Source: GOV.UK
- Stamp Duty (SDLT — England & NI): Nil rate up to £125,000 (or £300,000 for first-time buyers on homes up to £500,000). 5% surcharge for additional properties. Source: GOV.UK
- VAT Rates & Thresholds: Standard rate 20%, reduced rate 5%, zero rate 0%. Registration threshold £90,000 rolling 12 months. Source: GOV.UK
Data Source & Methodology: Figures are based on HMRC Annual Stamp Tax Statistics. (Note: Data is updated quarterly). Contains public sector information licensed under the Open Government Licence v3.0.
## The Impact of House Prices on Stamp Duty
The average SDLT per transaction in London is more than 15 times higher than the average in the North East. This massive discrepancy exists because SDLT is a progressive tax — the rates increase significantly on the portion of the property price that falls into higher bands. As average property prices in London and the South East regularly cross the higher threshold bands, buyers in these regions contribute the vast majority of all SDLT receipts collected by HMRC.
Popular Property Price Stamp Duty Guides
Looking for the exact SDLT calculation on a specific purchase price? Check our worked tax breakdowns across popular price bands:
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£1,000,000 Property
You can also use our interactive Stamp Duty Calculator to calculate custom purchase prices and additional property surcharges.
## Frequently Asked Questions
How do you calculate stamp duty in the UK?
Stamp Duty Land Tax (SDLT) in England and Northern Ireland is calculated on a tiered basis, similar to Income Tax. You only pay the specific percentage rate on the portion of the property price that falls within each tax band, not a flat percentage on the total price.
What is the threshold for paying stamp duty in the UK?
Currently, home movers in England and Northern Ireland pay no SDLT on the first £250,000 of a property’s value. For qualifying first-time buyers, this zero-rate threshold is temporarily set higher at £425,000, provided the total property price does not exceed £625,000.
How much is stamp duty on a 300k house in the UK?
If you are moving to a new primary residence in England or Northern Ireland, you pay 0% on the first £250,000 and 5% on the remaining £50,000. This results in a total Stamp Duty bill of £2,500. First-time buyers would pay nothing.
How much is stamp duty on a 500k house in the UK?
For a standard home mover in England, the first £250,000 is tax-free. The remaining £250,000 is taxed at 5%, bringing the total SDLT to £12,500. A qualifying first-time buyer would pay £3,750 (5% on the portion between £425,000 and £500,000).
Is stamp duty different in Scotland and England?
Yes. While England and Northern Ireland use Stamp Duty Land Tax (SDLT), Scotland uses its own system called the Land and Buildings Transaction Tax (LBTT). LBTT has different tax bands, different percentage rates, and distinct rules for first-time buyers.
Is stamp duty the same in England and Wales?
No. England uses Stamp Duty Land Tax (SDLT), whereas property transactions in Wales are subject to the Land Transaction Tax (LTT). Like the Scottish system, LTT sets its own tax bands and rates which differ significantly from the English system.
Do you pay stamp duty when selling a house in the UK?
No, Stamp Duty Land Tax is exclusively a tax on buying property or land over a certain threshold. The seller does not pay SDLT, though they may be liable for Capital Gains Tax if the property is not their primary residence.
Do non-residents in the UK have to pay stamp duty?
Yes, and they pay a surcharge. Non-UK residents purchasing residential property in England and Northern Ireland must pay a 2% surcharge on top of the standard (or additional home) Stamp Duty rates across all price bands.
What are the requirements to qualify as a first-time buyer in the UK?
To qualify for first-time buyer relief, you must never have owned a freehold or leasehold interest in a residential property anywhere in the world. If you are buying jointly, all purchasers must meet this strict requirement.
How much money does stamp duty raise in the UK?
Stamp Duty Land Tax is a major revenue generator. In a typical recent financial year, total SDLT receipts across England and Northern Ireland amount to roughly £11 billion to £13 billion, heavily driven by high-value transactions in London and the South East.