How is this calculated?

Under the new rules from 4 December, you may pay Stamp Duty at several different rates, depending on the purchase price. Under the old rules, there were several different Stamp Duty rates, but you, as a homebuyer, paid the same rate on the whole purchase price.

Purchase price of property	Rate of Stamp Duty
£0 – £125,000	0%
£125,001 – £250,000	2%
£250,001 – £925,000	5%
£925,001 – £1.5 million	10%
Over £1.5 million	12%

From April 2016 buy to let investors and second home purchasers will be liable for an additional 3% surcharge at each band of the above purchase price scale.

Purchase price of property	Rate of Stamp Duty
£0 – £125,000	3%
£125,001 – £250,000	5%
£250,001 – £925,000	8%
£925,001 – £1.5 million	13%
Over £1.5 million	15%