England and Northern Ireland rates from 1 April 2025: 0% to £125,000, 2% to £250,000, 5% to £925,000, 10% to £1.5m, 12% above. First-time buyers pay 0% to £300,000 and 5% to £500,000, with no relief at all above £500,000 (standard rates apply to the full price). Additional properties carry a 5% surcharge on top of standard rates. Scotland (LBTT) and Wales (LTT) use different bands and aren't modeled here. Not tax advice.
How much stamp duty is due on a £2,000,000 house?
Under the April 2025 rates, a £2,000,000 purchase in England or Northern Ireland costs a home mover £153,750 in stamp duty, 7.69% of the price. On the same £2,000,000, a first-time buyer also pays £153,750, as relief ends at £500,000. As an additional property it costs £253,750, including £100,000 of 5% surcharge.
Stamp duty on £2,000,000 by buyer type
| Buyer type | Stamp duty | Effective rate | vs home mover |
|---|---|---|---|
| Home mover / standard | £153,750 | 7.69% | same |
| First-time buyer | £153,750 (no relief above £500,000) | 7.69% | same |
| Additional property | £253,750 | 12.69% | +£100,000 |
How £2,000,000 is taxed, band by band
| Band | Slice of the price | Home mover | Additional property |
|---|---|---|---|
| Up to £125,000 | £125,000 | 0% = £0 | 5% = £6,250 |
| £125,001 to £250,000 | £125,000 | 2% = £2,500 | 7% = £8,750 |
| £250,001 to £925,000 | £675,000 | 5% = £33,750 | 10% = £67,500 |
| £925,001 to £1,500,000 | £575,000 | 10% = £57,500 | 15% = £86,250 |
| Above £1,500,000 | £500,000 | 12% = £60,000 | 17% = £85,000 |
| Total | £2,000,000 | £153,750 | £253,750 |
Of the £2,000,000 price, the first £125,000 is taxed at 0%, the next £125,000 at 2% (£2,500), the next £675,000 at 5% (£33,750), the next £575,000 at 10% (£57,500) and the remaining £500,000 at 12% (£60,000).
First-time buyer relief at £2,000,000
£2,000,000 is £1,500,000 over the £500,000 ceiling, so a first-time buyer pays the full £153,750: relief is withdrawn outright above the ceiling, not tapered. Had the price been £500,000, the bill would have been £10,000.
What changes around £2,000,000
- £2,000,000 is already in the top 12% band: each extra £1,000 costs a home mover £120, with no higher rate to cross.
- At £1,500,000 the home-mover bill is £93,750, so the £500,000 step up to £2,000,000 costs £60,000 in extra stamp duty.
At £2 million, £500,000 of the price falls in the 12% band, contributing £60,000 to a £153,750 total, an effective rate of 7.69%. For an additional property the top slice is taxed at 17% and the bill reaches £253,750, or 12.69% of the price, which is the highest effective rate on any price covered here.
Frequently asked questions
£153,750 at standard rates (a home mover), £153,750 for a first-time buyer because £2,000,000 is over the £500,000 relief ceiling, and £253,750 for a second home or buy-to-let.
Yes, the full £153,750. At £2,000,000 the purchase is £1,500,000 above the £500,000 limit for relief, so standard rates apply.
£100,000 extra: 5% of £2,000,000, added to the £153,750 standard bill for £253,750 in total.
At £2,010,000 a home mover would pay £154,950 (£1,200 more), a first-time buyer £154,950 (£1,200 more) and an additional-property buyer £255,450 (£1,700 more).
Other property prices
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Reviewed by Raja Jahangir · Last reviewed: October 2026