Council Tax and Stamp Duty Calculator

Looking to find out what Stamp Duty or Council Tax you may pay upon purchasing your new home in Coventry or Warwickshire?

What Council Tax will you pay?

Council Tax is a local taxation system used in England, Scotland and Wales. It is a tax on domestic property, which was introduced in 1993 by the Local Government Finance Act 1992. We would always recommend double checking with the local council what your council tax for the new property might be as it can chnage if there is any work done to improve the house. However the link below gives a really good indication of what the band currently is and also if there are any chnages pending on the property which may affect you when you purchase it.

Council Tax Calculator

What is stamp duty?

Stamp Duty Land Tax (SDLT) is a tax levied on the purchase of property in England and Northern Ireland.

SDLT is charged at different rates depending on the purchase price of a property. There are a number of stamp duty tax bands with rates rising from lower to higher bands.

A stamp duty holiday was introduced on 8th July 2020 and is set to expire on 30th June 2021 for properties up to £500,000 and 30th September 2021 for properties up to £250,000.

Stamp Duty Calculator

When do you pay stamp duty?

Stamp duty now needs to be paid within 14 days after completing on a property purchase. The 14 day period for submitting a stamp duty return has been effective from March 2019 and has been reduced from 30 days.

In reality the reduced time frame should not have a significant impact on individuals. This is because most SDLT returns will be submitted by a solicitor or conveyancer acting on behalf of their client.

How much will you pay when the stamp duty holiday ends?

When the stamp duty holiday ends on 30 June 2021, all stamp duty thresholds and rates will revert to those in place before to the stamp duty holiday.

From July 2021 the freehold residential stamp duty rates and thresholds are shown in the table below:

Tax Band
Normal Rate
Additional Property
less than £125k
£125k to £250k
£250k to £925k
£925k to £1.5m
rest over £1.5m
* An additional property purchased for less than £40k will attract 0% tax. For purchases from £40k to £125k the SDLT rate will be 3% on full purchase price. The SDLT rates above apply to freehold residential purchases in England and Northern Ireland.