Stamp duty calculator Northern Ireland - SDLT
What is (SDLT) Stamp Duty NI?
Stamp duty is simply a tax that is paid on the purchase of a residential property in Northern Ireland, the same as in the UK. Currently, the tax is only payable on properties with a purchase price over £125,000 and over £300,000 if you are buying your first house in Northern Ireland. One clause for first time buyers is that if they buy their first property over £500,000 they will pay the same tax as a second home buyer.
How much stamp duty will I pay Northern Ireland?
Different rules exist depending on if :
Firs time buyers get the best deal with zero NI stamp duty on house purchased at £300,000 or under and then5% on the amount between £300,000 and £500,000
How much stamp duty will you have to pay when buying a property in NI
The stamp duty calculation will depend on the type of purchase. The three types of property purchase have slightly different stamp duty calculations. We have highlighted these in the heading tabs of the NI stamp duty calculator below.
When is Stamp duty NI paid?
Stamp duty must be paid within 14 days of the date of completion to avoid any fines. The payment of stamp duty for NI properties should be part of your solicitor or legal adviser duties, but always confirm this with your solicitor or legal adviser to avoid any misunderstanding. If the amount is sizeable, you could consider adding the duty amount to your home loan.
How much stamp duty will I have to pay when buying a residential property in Northern Ireland?
Tax Band | Precentage **For purchases over £500k, SDLT is charged at 2% from £125k to £250k and 5% from £250k to £925k. | |||
|---|---|---|---|---|
| less than £300k | 0(5)** | |||
| £300k to £500k | 5 | |||
| £500k to £925k | 5 | |||
| £925k to £1.5m | 10 | |||
| rest over £1.5m | 10 |
Stamp duty Calculator NI example
Let's look at an example of a house purchase at £850,000. If you put this figure into our calculator above, it will calculate £32,500 of stamp duty that is payable. Below we break down the calculation, but this can also be viewed in the calculator above.