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Stamp Duty on a £550,000 Property
Here's how much stamp duty you'll pay on a £550,000 property in England or Northern Ireland, for each buyer type.
Standard Buyer
£15,000
2.73% effective rate
First-Time Buyer
£6,250
1.14% effective rate
Additional Property
£42,500
7.73% effective rate
Detailed Breakdown for £550,000
| Tax Band | Standard | First-Time | Additional |
|---|---|---|---|
| £0 – £250,000 | £0 | £0 | £12,500 |
| £250,000 – £550,000 | £15,000 | £6,250 | £30,000 |
| Total | £15,000 | £6,250 | £42,500 |