Stamp duty on a £1,000,000 property: £43,750 (England, 2026)
A main-home buyer in England pays £43,750 stamp duty on a £1,000,000 purchase — an effective rate of 4.4%. The 10% band kicks in at £925,000 so the marginal rate at £1m is steep.
£0
Effective rate: 0.00%
Indicative — final stamp duty depends on the exact completion date and HMRC's published rules at that date. Always confirm with your conveyancer. Figures based on rules in force April 2026.
£1,000,000 — the SDLT bill across four bands
A main-home buyer in England pays:
- £0 on the first £125,000 (0%)
- £2,500 on the slice from £125,000 to £250,000 (2%)
- £33,750 on the slice from £250,000 to £925,000 (5%)
- £7,500 on the slice from £925,000 to £1,000,000 (10%)
- Total: £43,750 (effective rate 4.4%)
At £1m the marginal rate is 10% — twice the rate of the band below. Negotiation matters disproportionately at this price point.
The £925,000 cliff
Above £925,000 every additional pound of price attracts 10% SDLT instead of 5%. That changes how a buyer should think about £30k or £50k of negotiation:
- £950,000 → £40,000 stamp duty (5% above £925k = £1,250 of incremental tax)
- £1,000,000 → £43,750 (£3,750 incremental from £950k)
- £1,100,000 → £53,750 (£10,000 of incremental tax for £100k of price)
If a vendor is asking £1m and you settle at £960k, you've saved £40,000 in cash plus £4,000 in stamp duty — £44,000 of net benefit.
What changes for additional property or non-residents
| Buyer type | Stamp duty on £1,000,000 (England) |
|---|---|
| Main home (UK resident) | £43,750 |
| First-time buyer (UK resident) | £43,750 (no relief above £500k) |
| Additional property (UK resident) | £93,750 |
| Main home (non-UK resident) | £63,750 |
| Additional property (non-UK resident) | £113,750 |
Source: SDLT bands, additional-property surcharge and non-resident surcharge as published on gov.uk for purchases completing in 2026.
Worked examples around £1m
Example 1 — Family buying a £995,000 detached house in Cobham. Main home, UK residents. Tax: £43,250 — saving £500 vs the £1m asking, half the cash discount.
Example 2 — Investor buying a £1.05m portfolio property. Higher rates: £101,750 standard SDLT — almost 10% effective. The 10% band (£925k–£1.5m) is where buy-to-let yields really get hammered.
Example 3 — Returning expat buying a £1m London flat. Non-resident, but planning to spend 200+ days in the UK in the year following completion. Pays £63,750 at completion, then claims back the £20,000 non-resident surcharge from HMRC once the residency test is met.
Scotland and Wales at £1,000,000
- Scotland (LBTT): £78,350 — Scotland's 12% top band starts at £750,000, making seven-figure Scottish purchases materially more expensive in tax than English ones.
- Wales (LTT): £61,750.
Switch the country dropdown above for the exact figure.
Where Offrly fits
A £25,000 swing in the agreed price — well within typical valuation uncertainty at the £1m mark — changes the stamp duty bill by £2,500 and changes how negotiation feels. Offrly's AI reads each comparable's photos, and hyperlocal pricing resolves prices to the street rather than the postcode — in about 30 seconds. Free. No email. A sharper first-pass price than anything else online.
Other stamp duty calculators: £400,000 · £500,000 · £750,000 · First-time buyer · Additional property · Non-resident · Scotland (LBTT) · Wales (LTT) · Head calculator
Disclaimer: Indicative figures based on HMRC SDLT rules in force April 2026. Not tax advice. Confirm the binding figure with your conveyancer before exchange.
FAQ: Stamp duty on a £1,000,000 property: £43,750 (England, 2026)
How much is stamp duty on a £1 million house in England?
£43,750 for a main-home buyer in 2026. The bill is built from 0% on the first £125,000, 2% on the slice to £250,000, 5% on £250,000–£925,000 and 10% on the £75,000 above. Effective rate is 4.4%. Source: HMRC SDLT bands.
Why does £925,000 matter?
It's the band cliff where the SDLT rate jumps from 5% to 10%. Every pound of price above £925,000 attracts double the marginal rate of the slice below. At £1m you're £75,000 into the 10% band — that's £7,500 of incremental tax.
What about a £1m additional property?
5% surcharge across all bands: standard £43,750 + 5% × £1,000,000 = £93,750 total. That's a 9.4% effective rate — almost £100,000 in tax before you turn the key.
What does a non-UK resident pay on £1m?
Standard SDLT £43,750 plus the 2% non-resident surcharge (£20,000) = £63,750. A non-resident buy-to-let at £1m pays £113,750 in stamp duty.
When does the 12% top band kick in?
Above £1.5m. Every pound from £1,500,000 attracts 12%. Below that you're in the 10% band, which is the marginal rate for any purchase between £925,000 and £1,500,000.