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Tax Rates & Allowances

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Duties

Stamp Duty Land Tax

Residential Land or property

From the 4th December 2014, Stamp Duty Land Tax (SDLT) is charged at each rate on the portion of the purchase price which falls within each rate band.

From 1st April 2016, if buying a residential property means you'll own more than one, you'll normally be subject to an additional 3% charge on the rates detailed below.

Rate Property value band
0% Up to £125,000
2% £125,000 - £250,000
5% £250,000 - £925,000
10% £925,000 - £1,500,000
12% Over £1,500,000

From 1st July to 30 September 2021 the following rates were applied

Rate Property value band
0% Up to £125,000
5% £250,000 - £925,000
10% £925,000 - £1,500,000
12% Over £1,500,000

First Time buyers relief

From November 2017, further changes were made to the stamp duty system with the introduction of First time buyers relief. The Relief applies to anyone purchasing their first home. Full stamp duty relief is available up to £300,000, with reduced liability up to £500,000. Any purchases above £500,000 would attract the normal stamp duty rates on the whole purchase price.

Non-Residential or mixed property

Rate from 17 March 2016 Purchase price/lease premium or transfer value
0% Up to £150,000
2% £150,001 - £250,000
5% Over £250,000

Lease rentals

Effective date Residential property Non-residential or mixed property Rate
NPV of rents NPV of rents %
From 17 March 2016 Up to £125,000 Up to £150,000 0
Over £125,000 £150,001 to £5m 1
N/A Over £5m 2
From 1 January 2010 Up to £125,000 Up to £150,000 0
Over £125,000 Over £150,000 1

Where the chargeable consideration includes rent, SDLT is payable on the lease premium and on the ‘net present value’ (NPV) of the rent payable.

Where the annual rent for the lease of non-residential property amounts to £1,000 or more, the 0% SDLT band is unavailable in respect of any lease premium.

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