Answers · UK 2025/26
How much stamp duty do I pay on a £500,000 property?
On a £500,000 property in England or Northern Ireland, standard SDLT is £15,000 (0% to £125,000, 2% on the next £125,000, 5% on the remaining £250,000). A genuine first-time buyer pays £10,000, since £500,000 is exactly the upper limit of first-time buyer relief.
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Under the standard residential Stamp Duty Land Tax rates for England and Northern Ireland, a £500,000 purchase is taxed at 0% on the first £125,000, 2% on the next £125,000 (£2,500), and 5% on the remaining £250,000 (£12,500), giving total SDLT of £15,000. A genuine first-time buyer still qualifies for relief at exactly this price, since £500,000 is the maximum property value the relief applies to: the first £300,000 is taxed at 0% and the remaining £200,000 at 5%, giving SDLT of £10,000, a saving of £5,000 versus the standard rate. Buy so much as £1 more, however, and first-time buyer relief is lost entirely, with the full standard rate applying instead -- a well-known cliff-edge that makes £500,000 an important price point to be aware of when negotiating. If the property is an additional property, a 5% surcharge applies across the whole price on top of the standard bands, adding £25,000 and bringing the total SDLT to £40,000. In Scotland, the equivalent Land and Buildings Transaction Tax on a £500,000 property is £23,350, and in Wales, Land Transaction Tax is £18,000, both without the England/NI first-time buyer cliff-edge working the same way. Use the Stamp Duty calculator to check your exact liability.
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This answer is informational only and does not constitute financial, tax or legal advice. Figures are for the 2025/26 UK tax year. See our methodology and sources.