Stamp Duty on a £2,000,000 House (2025–26)
Standard SDLT · First-time buyer rate · Additional property surcharge · Full band breakdown
| Band | Taxable amount | Rate | Tax |
|---|---|---|---|
| First £125,000 | £125,000 | 0% | £0 |
| £125,001 – £250,000 | £125,000 | 2% | £2,500 |
| £250,001 – £925,000 | £675,000 | 5% | £33,750 |
| £925,001 – £1,500,000 | £575,000 | 10% | £57,500 |
| Above £1,500,000 | £500,000 | 12% | £60,000 |
| Total stamp duty | £153,750 |
First-time buyers
First-time buyer relief does not apply to properties over £500,000. The standard rate of £153,750 applies to all buyers.
Second homes and buy-to-let
Second-home buyers and landlords pay an additional 3% surcharge on the full purchase price. On a £2,000,000 property, the total SDLT is £213,750 (effective rate: 10.7%).
When do you pay stamp duty?
Stamp Duty Land Tax (SDLT) is due within 14 days of completion. Your solicitor or conveyancer normally files the SDLT return and pays HMRC on your behalf as part of the completion process.
If you’re buying with a mortgage, your lender will require SDLT to be paid before releasing funds. Cash buyers must still pay within 14 days and file a return even if no tax is due.
Frequently asked questions
About Stamp Duty on a £2,000,000 Property
Stamp Duty Land Tax (SDLT) is paid to HMRC when you purchase a residential property in England or Northern Ireland above £125,000. On a £2,000,000 property, the tax is calculated in bands — each portion of the purchase price is taxed at the rate applicable to that band, not the whole amount at a single rate.
First-time buyer relief does not apply to properties over £500,000.
If you are purchasing an additional property — such as a buy-to-let or second home — a 3% surcharge applies on top of the standard rates. On a £2,000,000 purchase, the additional dwelling surcharge would add approximately £60,000 to your stamp duty bill.
Scotland and Wales have their own property transaction taxes: Land and Buildings Transaction Tax (LBTT) in Scotland and Land Transaction Tax (LTT) in Wales. The rates and thresholds differ from SDLT. This calculator covers England and Northern Ireland only.
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