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CLIENTS page
CLIENTS page
STAMP DUTY LAND TAX (SDLT) 23.9.2022 |
Residential |
Notes | ||
Rate of SDLT on first property |
Std Rate of SDLT if you previously purchased |
Rate of SDLT on additional properties |
Property band - consideration |
If you own a residential property and purchase another that is NOT a replacement for your main residence, then higher rates of stamp duty (plus 3%) will be payable. From 23.9.2022 stamp duty will be £Nil for a home costing < £250,000. First time buyers will not pay SDLT up to £425K and 5% on the portion £425K-£625K. From 1.4.2021, an additional 2% supplement will apply where property is purchased by a non-resident. |
0% |
0% |
0% |
£ < £40,000 | |
0% |
0% |
3% |
£40001 - £125,000 | |
0% |
0% |
3% |
£125,001 - £250,000 | |
0% |
5% |
8% |
£250,001 - £300,000 | |
0%-5% |
5% |
8% |
£300,001 - £500,000 | |
5% |
5% |
8% |
£500,001 - £925,000 | |
10% |
10% |
13% |
£925,001 - £1,500,000 | |
12% |
12% |
15% |
> £1,500,000 | |
1. The tax rates above apply to increasing portions (slice) of consideration. 2. Stamp Duty Land Tax is charged at 15% on residential properties costing more than £500K bought by certain corporate bodies or ‘non-natural persons. 3. The higher rates above also apply to companies that purchase residential property, including the purchase of a first residential property. | ||||
Purchasers of land and buildings in Scotland and Wales pay different rates based on different bandings. |
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. |
0% |
£0 - £150,000 | |
2% |
£150,001 - £250,000 | |
5% |
> £250,000 | |
Purchasers of land and buildings in Scotland and Wales pay different rates based on different bandings. | ||
ANNUAL TAX ON ENVELOPED DWELLINGS (ATED) |
Notes | ||
PROPERTY VALUE |
ATED 1.4.2023-31.3.2023 |
ATED 1.4.2022-31.3.2023 |
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 |
£4,150 |
£3,800 | |
£1,000,001-£2,000,000 |
£8,450 |
£7,700 | |
£2,000,001-£5,000,000 |
£28,650 |
£26,050 | |
£5,000,001-£10,000,000 |
£67,050 |
£60,900 | |
£10,000,001-£20,000,000 |
£134,550 |
£122,250 | |
> £20m |
£269,450 |
£244,750 |
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. |
0% |
0% |
£0 - £125,000 | |
1% |
0% |
£125,001 - £150,000 | |
1% |
1% |
£150,001 - £5,000,000 | |
1% |
2% |
>£5,000,000 |