Stamp Duty
Stamp Duty land Tax
- SDLT is payable on land and property transactions in England and Northern Ireland.
- Property transactions in Scotland are subject to Land and Buildings Transaction Tax (LBTT).
- Property transactions in Wales are subject to Land Transaction Tax (LTT).
Residential property
The rates apply to the portion of the total value which falls within each band.
| Consideration (£) | Rate |
| 0 – 250,000 | 0% |
| 250,001 – 925,000 | 5% |
| 925,001 – 1,500,000 | 10% |
| 1,500,001 and above | 12% |
These rates may be increased by 3% where further residential properties, costing over £40,000, are acquired.
First-time Buyer relief
First-time buyers may be eligible for first-time buyer relief on purchases of residential property up to £625,000. The rates apply to the portion of the total value which falls within each band.
| Consideration (£) | Rate |
| 0 – 425,000 | 0% |
| 425,001 – 625,000 | 5% |
| for purchases over 625,000 | normal rates apply |
Non-residential SDLT rates
| Consideration (£) | Rate |
| 0 – 150,000 | 0% |
| 150,001 – 250,000 | 2% |
| Over 250,000 | 5% |
Payable on consideration which falls in each band.
Disclaimer
This publication is published for the information of clients. It provides only an overview of the regulations in force at the date of publication and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this publication can be accepted by the authors or the firm.