To not understand how to calculate stamp duty?

[Sami32]

Ok, no idea where I am going wrong here:

Not first-time buyer, purchase price is £400,000:

Stamp duty calculator says that stamp duty will be £19,500.

If I calculate following the guidance on gov.uk (www.gov.uk/stamp-duty-land-tax/residential-property-rates):
0% on the first £250,000
then 5% on the next £625,000 - in this case 5% on £150,000 (£400,000 minus the first £250,000 is £150,000) = £7,500

Feeling silly, but where is my calculation off?

if you’re using the .gov website to calculate, you’ve probably answered the question “are you buying as an individual?’ incorrectly - I always read that question incorrectly and it inflates the amount payable.

You've got it set on the "buying an additional property option" instead of "buying my next home" which is 3% on first £250k and 8% after that so equals £19.5k rather than £7.5k

I use that calculator a lot just checked your figures and confirm £7500 due. £19500 is due if it is a second property being purchased and first hasn't been sold yet.

Ah yes, I think I found the mistake! Unfortunately it seems to be £19,500 for me because although the new property will be my main residence, I haven't sold my old property yet, so I need to look under 'buying an additional property'. Thank you all!

I think when you sell your current property, as long as it's within a certain timescale, you'll be able to claim the stamp duty back.

I think if you sell the other property within 3 years you will get the difference in stamp duty back.

You can claim the difference back if you sell your current home / old property within a specific period. I forget how long but the gov.uk site will tell you.