Stamp Duty on a £1,000,000 buy-to-let
The exact Stamp Duty on a £1,000,000 additional property, band by band, with comparisons across the UK.
Key facts
- England and NI buy-to-let: £93,750 (9.38%).
- Replacing your main home instead: £43,750.
- Scotland: £158,350. Wales: £111,200.
- Pay within 14 days of completion (England and NI).
Stamp Duty on a £1,000,000 buy-to-let: band by band
Buying a £1,000,000 buy-to-let or second home in England or Northern Ireland costs £93,750 in Stamp Duty, an effective rate of 9.38%. That's £50,000 more than someone replacing their main home pays, because the 5% surcharge applies to every band.
| Slice of the price | Rate | Tax |
|---|---|---|
| £0 – £125,000 | 5% | £6,250 |
| £125,000 – £250,000 | 7% | £8,750 |
| £250,000 – £925,000 | 10% | £67,500 |
| £925,000 – £1,000,000 | 15% | £11,250 |
| Total | £93,750 |
How it compares
| Buyer | Tax on £1,000,000 |
|---|---|
| Buy-to-let / second home (England, NI) | £93,750 |
| Non-UK resident buy-to-let (England, NI) | £113,750 |
| Replacing main home (England, NI) | £43,750 |
| First-time buyer (England, NI) | £43,750 (no relief over £500k) |
| Buy-to-let in Scotland (LBTT + 8% ADS) | £158,350 |
| Buy-to-let in Wales (LTT higher rates) | £111,200 |
Across the UK, a £1,000,000 buy-to-let costs least in England (£93,750).
Total cash needed
With a 25% deposit (£250,000), Stamp Duty of £93,750 and roughly £2,000 to £4,000 for legal fees, survey and mortgage fees, expect to need about £345,750 to £347,750 in cash. Check the rent covers the mortgage with the buy-to-let mortgage calculator.
Other prices: £100k · £125k · £150k · £175k · £200k · £225k · £250k · £275k · £300k · £350k · £400k · £450k · £500k · £600k · £750k
Frequently asked questions
How much is Stamp Duty on a £1,000,000 buy-to-let?
£93,750 in England and Northern Ireland, including the 5% surcharge on each band. A non-UK resident pays £113,750.
Is it cheaper to buy a £1,000,000 rental in Scotland or Wales?
On a £1,000,000 purchase, Scotland costs £158,350 (including £80,000 ADS) and Wales costs £111,200, against £93,750 in England.
Sources
- GOV.UK: Stamp Duty Land Tax residential property rates
- Scottish Government: Scottish tax ready reckoners 2026-27 (LBTT rates and ADS)
- Welsh Government: Land Transaction Tax rates and bands
Sources last checked 10 November 2026. See all our sources and how we keep pages up to date.