Stamp Duty on a £1,000,000 House 2026
Quick answer: a standard buyer pays £43,750. A second home buyer pays £93,750 (standard plus £50,000 surcharge). The price crosses into the 10% band at £925,000 but does not reach the 12% top band. First-time buyer relief does not apply.
By buyer type at £1,000,000
| Buyer type | England + NI (SDLT) | Scotland (LBTT) | Wales (LTT) |
|---|---|---|---|
| Standard buyer | £43,750 | £78,350 | £61,750 |
| First-time buyer | £43,750 | £78,350 | £61,750 |
| Second home / additional property | £93,750 | £158,350 | £111,200 |
| Non-UK resident (standard) | £63,750 | £78,350 | £61,750 |
First-time buyer relief is lost above £500,000, so FTB and standard pay the same at £1m. Scotland's LBTT is materially higher because the 10% band kicks in at £325,000 (vs £925,000 in England). Scotland's ADS at 8% on the full £1m (£80,000) makes the second-home figure brutal.
How the £43,750 standard SDLT is built
Band-by-band math for a standard buyer at £1,000,000 in England or Northern Ireland. The price crosses into the 10% band but does not reach the 12% top band.
| Band | Rate | Taxable in this band | Tax due |
|---|---|---|---|
| £0 to £125,000 | 0% | £125,000 | £0 |
| £125,001 to £250,000 | 2% | £125,000 | £2,500 |
| £250,001 to £925,000 | 5% | £675,000 | £33,750 |
| £925,001 to £1,000,000 | 10% | £75,000 | £7,500 |
| Total | £43,750 | ||
Why the second-home figure is £93,750
The additional-property surcharge is 5% applied marginally on top of every band. The total surcharge component on £1,000,000 is 5% of the full price = £50,000. Adding that to the standard £43,750 gives £93,750.
Equivalently, the second-home schedule is 5%, 7%, 10%, 15% across the same band boundaries. The £75,000 in the £925,001 to £1m band is taxed at 15% (10% standard + 5% surcharge) which gives £11,250. The full second-home math:
- →5% on £125,000 = £6,250
- →7% on £125,000 = £8,750
- →10% on £675,000 = £67,500
- →15% on £75,000 = £11,250
- =Total = £93,750
Frequently Asked Questions
How much is stamp duty on a £1 million house in 2026?
A standard buyer pays £43,750. A second-home or buy-to-let buyer pays £93,750. A non-UK-resident standard buyer pays £63,750. First-time buyer relief does not apply at £1m (relief is lost above £500,000).
Why does the 10% band start at £925,000?
The 10% band is set at £925,000 by the post-April-2025 SDLT band schedule. Below £925,000 the top rate paid is 5%. Above £925,000 each pound is taxed at 10% (up to £1,500,000, where the top band of 12% begins). The 10% band cost £33,750 to traverse from £250,000 to £925,000 cumulatively at the lower rate.