Got questions about when you pay Stamp Duty, how you pay it and stamp duty refunds? Look no further.
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When do you pay Stamp Duty?
You need to pay Stamp Duty within fourteen days of buying a property or piece of land. Usually, if you’re using a conveyancer or solicitor, they will do this for you. Depending on your circumstances, you may not need to pay Stamp Duty at all.
Stamp Duty Tax is called different things in different parts of the UK
In England and Northern Ireland it's referred to as Stamp Duty Land Tax, but in Scotland it's called Land and Building Transaction Tax. In Wales it is referred to as Land Transaction Tax.
Do you need to pay Stamp Duty?
Whether or not you need to pay Stamp Duty depends on your circumstances and where you're buying in the UK. Here we will look at some specific areas you might have questions about, but if you're looking for general rates head over to our What is Stamp Duty? page.
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Do you pay Stamp Duty on land?
Yes, you will, and the amount you need to pay depends on whether or not it’s for residential use. If you’re going to be using the land as your main home then you will need to pay Stamp Duty at the usual rates.
Head over to our Stamp Duty guide to check how much Stamp Duty you'll pay.
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Do you pay Stamp Duty on commercial property?
In England, Northern Ireland or Scotland you will have to pay Stamp Duty on non-residential property if you pay over £150,000 for it.
In Wales you will need to pay Stamp Duty when you buy a non-residential property that’s over £225,000. Non-residential stamp duty rates generally apply to a business purpose, for example a shop, office or warehouse.
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Do you pay Stamp Duty on new build homes?
You will need to pay Stamp Duty on the property depending on how much you pay for it. Buying a new build property doesn’t make a difference to how much Stamp Duty you pay.
If you want to find out how much Stamp Duty you’ll need to pay take a look at our quick guide that covers all of the rates.
Adding Stamp Duty to your mortgage
It's possible to borrow more against your home or property to pay your stamp duty, however this would decrease the amount of money you have available for your mortgage deposit. You would need to send this money to your conveyancer before the purchase of the property takes place.
It's important to understand that, if you do this, the amount of money you’ll be borrowing will increase along with your loan to value ratio (LTV). Please note that we will only lend up to the maximum 95% LTV.
As you will be borrowing a larger proportion of the purchase price of the new property, your monthly payments will increase and you’ll incur additional interest over the duration of the mortgage term.
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Can you pay Stamp Duty on a credit card?
You can’t use a personal credit card to cover the cost. In 2018, a new law was passed which prohibited HMRC from accepting credit card payments to cover Stamp Duty costs. This is to ensure that customers do not have to pay extra fees when using credit card as a payment method.
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Can Stamp Duty be paid in instalments?
You can’t pay for Stamp Duty in instalments, it has to be paid in full to the government within 14 days from when you buy a piece of land or property. Again, this means you can’t spread the cost of the Stamp Duty bill so the bill has to be factored in to the cost you have to pay when buying a home.
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Not sure how you'll pay Stamp Duty?
It’s important to get sight of the different costs you’re going to have to pay so you don’t get a shock when you come to buy. Take a look at our unexpected costs page to find out everything you need to consider when buying a home. If you’re not quite there yet in terms of savings, don’t worry. We’re here to help.
You'll need an instant access savings account with us to set up a savings goal, as well as our app. App available to customers aged 11+ with compatible iOS and Android devices and a UK or international mobile number in specific countries.
Stamp Duty Refunds
Are you eligible for a refund?
If you’ve bought a new home and not sold your old one just yet, you may have had to pay a higher rate of Stamp Duty. If you sell your old home within 3 years of buying the new one, you can apply for a repayment of the extra Stamp Duty you paid.
Claiming back Stamp Duty
If you’re eligible, you can apply for a repayment online on the government website. You need to either be the main buyer of the home or the professional acting on behalf of the buyer.
Find out what we could offer you
Step 1
- Our Agreement in Principle provides a personalised indication of how much you could borrow
- Will not impact your credit score
- Takes less than 10 minutes
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Step 2
- Apply online today, or contact us if you'd like support
- Save progress and come back whenever you like
- Upload, submit and sign all of your documents online
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