I'm a non-UK resident looking to purchase a second home in England for £400,000. Using the calculator, what would be my total estimated stamp duty liability? Additionally, what is the specific definition the website uses to determine if someone has 'non-UK resident status' for stamp duty purposes?
Navigate to 'https://www.stampdutycalculator.org.uk/'. Locate the 'Sdltform Form' and ensure the 'Additional Property' option is selected for the calculation. Enter '400000' into the 'Purchase Price' field (ID 139). Click the 'Calculate image link' (ID 142) to determine the base stamp duty liability for an additional property. Click on the 'Non UK residents' link (ID 109) in the 'SDLT Sections' menu. Identify the percentage surcharge for non-UK residents. Identify the website's definition for 'non-UK resident status'. Calculate the total stamp duty liability, combining the base stamp duty for an additional property with the non-UK resident surcharge. State the total estimated stamp duty liability and the definition of non-UK resident status.
The agent successfully navigates to the calculator and inputs £400,000. The agent correctly calculates the base stamp duty for an additional property of £400,000 as £25,000 (including the 5% surcharge for second homes). The agent successfully navigates to the 'Non UK residents' section. The agent identifies the non-UK resident surcharge as an additional 2%. The agent states the definition of non-UK resident status as: 'Someone who is not present in the UK for at least 183 days in the 12 month period leading up to buying a property will have non-UK resident status.' The agent correctly calculates the total estimated stamp duty liability for a non-UK resident purchasing a £400,000 second home as £33,000 (base £25,000 + 2% of £400,000 = £8,000, total £33,000).