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CLIENTS page
CLIENTS page
Stamp Duty
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STAMP DUTY LAND TAX (SDLT) 31.10.2024 |
Residential |
Notes | ||
|
Rate of SDLT on first property |
Rate of SDLT on additional properties |
SDLT rate non-residents first property |
Property band - consideration |
These rates are from 31.10.2024 and will change from 1.4.2026 |
|
0% |
5% |
2% |
£40001 - £125,000 |
1. Non- residents are charged an extra 5% SDLT for second and subsequent property purchases. 2. From 1.4.2015 SDLT for first time buyers will be 0% for purchases up to £300K with standard rates above that amount. 3. From 31.10.24-1.4.25, SDLT for first time buyers will be 0% for purchases up to £425K, 5% from £425K-£625K with standard rates above that amount |
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0% |
5% |
2% |
£125,001 - £250,000 | |
|
5% |
10% |
7% |
£250,001 - £300,000 | |
|
5% |
10% |
7% |
£300,001 - £500,000 | |
|
5% |
10% |
7% |
£500,001 - £925,000 | |
|
10% |
15% |
12% |
£925,001 - £1,500,000 | |
|
12% |
17% |
14% |
> £1,500,000 | |
|
1. The tax rates above apply to increasing portions (slice) of consideration. 2. SDLT is charged at 17% (19% non-resident entities) on residential properties costing more than £500K bought by certain corporate bodies/‘non-natural’ persons. 3. The higher rates above also apply to companies that purchase residential property, including purchase of a first residential property. | ||||
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Purchasers of land and buildings in Scotland and Wales pay different rates based on different bandings. | ||||
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STAMP DUTY LAND TAX |
Non - Residential - Freehold |
Notes |
|
Rate of tax |
Property band - consideration |
These new rates will apply to transactions completed after 17 March 2016 on non-residential and mixed use properties. E.g. for a commercial property purchased for £275,000, the SDLT will be £3,250. |
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0% |
£0 - £150,000 | |
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2% |
£150,001 - £250,000 | |
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5% |
> £250,000 | |
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Purchasers of land and buildings in Scotland and Wales pay different rates based on different bandings. | ||
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ANNUAL TAX ON ENVELOPED DWELLINGS (ATED) |
Notes | ||
|
PROPERTY VALUE |
ATED 1.4.2024-31.3.2025 |
ATED 1.4.2023-31.3.2024 |
ATED applies to ‘high value’ residential properties that are held in a company, partnership, one or more corporate members or a similar structure. The properties suffer an annual tax charge (ATED) based on the value of the property. There are a number of reliefs and exemptions available such as for properties let commercially or held as stock for development companies. |
|
£0.5m - £1m |
£4,400 |
£4,150 | |
|
£1,000,001-£2,000,000 |
£9,000 |
£8,450 | |
|
£2,000,001-£5,000,000 |
£30,550 |
£28,650 | |
|
£5,000,001-£10,000,000 |
£71,500 |
£67,050 | |
|
£10,000,001-£20,000,000 |
£143,550 |
£134,550 | |
|
> £20m |
£287,500 |
£269,450 | |
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SDLT ON LEASES (RENT) - Leasehold |
Notes | ||
|
Rate on Residential Property |
Rate on non-residential property |
On band of net present value |
SDLT is payable by tenants of leased property and is based on the NET PRESENT VALUE of the lease payments (including any VAT) over the lease term. The tenant or purchaser must submit a land transaction return and pay any SDLT within 30 days of the transaction date. |
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0% |
0% |
£0 - £125,000 | |
|
1% |
0% |
£125,001 - £150,000 | |
|
1% |
1% |
£150,001 - £5,000,000 | |
|
1% |
2% |
>£5,000,000 | |
Stamp duty applies to any instrument (a written document) used to transfer shares/stock and other marketable securities. It is payable by the transferee at 0.5% of the value if the transfer is by way of sale. Stamp Duty Land Tax (LBTT in Scotland/LTT in Wales) applies to land and property situated in the UK and is payable by a purchaser.
