Stamp Duty on £1,000,000 in 2026/27
On a £1,000,000 home in England or Northern Ireland, someone moving home pays £43,750 in Stamp Duty Land Tax in 2026/27. A first-time buyer pays £43,750, and a buyer who will own another home pays £93,750.
Stamp Duty to pay
£43,750
That is 4.38% of the price
| Part of the price | Rate | Tax |
|---|---|---|
| £0 to £125,000 | 0% | £0 |
| £125,000 to £250,000 | 2% | £2,500 |
| £250,000 to £925,000 | 5% | £33,750 |
| £925,000 to £1,000,000 | 10% | £7,500 |
| Total | £43,750 |
How this was worked out
- £0 to £125,000: £125,000 × 0% = £0
- £125,000 to £250,000: £125,000 × 2% = £2,500
- £250,000 to £925,000: £675,000 × 5% = £33,750
- £925,000 to £1,000,000: £75,000 × 10% = £7,500
- Total: £43,750
| Tax | Buyer | Total |
|---|---|---|
| Stamp Duty Land Tax | First-time buyer | £43,750 |
| Stamp Duty Land Tax | Moving home | £43,750 |
| Stamp Duty Land Tax | Buyer who will own more than one home | £93,750 |
| LBTT | Moving home | £78,350 |
| LTT | Moving home | £61,750 |
The tax on £1,000,000 is worked out in slices. Each part of £1,000,000 that falls in a band pays that band's rate, and the table adds the slices up to reach £43,750.
First-time buyer relief stops at a price of £500,000, so at £1,000,000 a first-time buyer pays the standard £43,750.
A buyer who will own more than one home after buying at £1,000,000 usually pays the higher rates, 5% above each standard rate, which gives £93,750. Someone who sells their main home and buys a new one for £1,000,000 does not normally pay them, and HMRC sets time limits on that rule.
The same £1,000,000 home in Scotland would pay £78,350 in Land and Buildings Transaction Tax, and in Wales £61,750 in Land Transaction Tax, at the main rates for a buyer moving home. Wales has no first-time buyer relief, so a first-time buyer there also pays £61,750.
The figures for £1,000,000 assume a freehold or the premium on a lease, a wholly residential property and a buyer resident in the UK. A buyer who is not resident pays a further 2% on each rate, which the £1,000,000 figures leave out.
To try a price other than £1,000,000, use the Stamp Duty calculator. For a £1,000,000 home in Scotland or Wales, the LBTT calculator and the LTT calculator show each slice.