Stamp Duty & Stamp Duty Land Tax (SDLT)

Stamp Duty and Annual Tax on Enveloped Dwellings
Shares and securities rate 0.5%

The annual tax on Enveloped Dwellings (ATED) is payable by certain non-natural persons that own interests in dwellings valued at more than £500,000.

Stamp Duty and Stamp Duty Land Tax (SDLT)
Property in England and N. Ireland

Rate

Residential Property

Zero

£0 - £500,000

5%

£500,001 - £925,000

10%

£925,001 - £1,500,000

12%

Over £1,500,000

 

*No SDLT is temporarily payable on any purchases of up to £500,000. The reduction applies to first-time buyers (superceding existing rules) and to those who have owned property before.

*From 1 April to 5 April 2021 the previous existing SDLT rates apply - 0% up to £125,000, 2% from £125,001 - £250,000, 5% from £250,001 - £925,000. 

 

 SDLT on non-residential and mixed used properties.  

Rate

Non-Residential Property

Zero

£0 - £150,000

2%

£150,001 - £250,000

5%

Over £250,000

 

These rates are applied on a graduated basis with the portion of the purchase price within each tier charged at the applicable rate.
 
15% is applied to residential properties held in a 'corporate envelope' costing over £500,000. 
 
There is a higher rate of SDLT that applies to purchases of additional residential property such as buy to let and second homes. 
 
The rate is 3% higher than the current SDLT rates and applies to the purchase of additional residential properties valued at £40,000 and above. 
 
No SDLT is payable for first-time buyers in England and Northern Ireland making purchases up to £300,000, and then 5% on the next £200,000.

 

Scotland: Land & buildings transaction tax (SLBTT)
Property in Scotland

Rate

Residential Property

Zero

£0 - £250,000

5%

£250,001 - £325,000

10%

£325,001 - £750,000

12%

Over £750,000

 

Non-Residential and mixed use properties.

Rate

Non-Residential Property

Zero

£0 - £150,000

3%

£150,001 - £250,000

5.0%

Over £250,000

 

The zero rate band is applicable to buyers from 15/7/20 to 31/3/21.  

From 1 April to 5 April 2021 the previous SLBTT rates apply. This is 0% up to £145,000 and 2% from £145,001-£250,000. For first time buyers the 0% rate is up to £175,000.

These rates are applied on a graduated basis with the portion of the purchase price within each tier charged at the applicable rate. 

There is a 4% (was 3% until 24 January 2019) SLBTT supplement for purchases of additional residential properties in Scotland valued at £40,000 and above. 

  

Wales: Land Transaction Tax (WLTT)

Rate

Residential Property

Zero

£0 - £250,000

5%

£250,001 - £400,000

7.5%

£400,001£750,000

10%

£750,001 - £1,500,000

12%

Over £1,500,000

 

Non-Residential and mixed use properties.

Rate

Non-Residential Property

Zero

£0 - £150,000

1%

£150,001 - £250,000

5%

£250,001 - £1,000,000

6%

Over £1,000,000

 

The Zero rate band is applicable to buyers from 27/7/20 to 31/3/21. From 1 April to 5 April 2021 previous WLTT rates apply - 0% from £0-£180,000 and 3.5% from £180,001-£250,000.

These rates are applied on a graduated basis with the portion of the purchase price within each tier charged at the applicable rate. 

There are currently no further measures specifically targeting first-time buyers in Wales.

There is a WLTT higher rate supplement of 3% on purchases of additional residential properties costing £40,000 or more.

 

Disclaimer

In preparing and maintaining this section of our website every effort has been made to ensure the content is up to date and accurate. However, the law and regulations change continually, and unintentional errors can occur, and the information may be neither up to date nor accurate. We make no representation or warranty (including liability towards third parties), express or implied, as to the accuracy, reliability or completeness of the information on the website. Please don’t act directly on anything you read - contact us first for advice on how it may affect your individual circumstances.

 

 

Contact Us

Foster Knight

DC Business centre
10 Charles Wood Road
Rashes Green Industrial Estate
Dereham
Norfolk
NR19 1SX
 
Tel:01362 851718

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