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Stamp Duty Land Tax (SDLT) Rates
Stamp Duty is applicable in England & Northern Ireland.
Scotland imposes a Land and Buildings Transactions Tax (LBTT) – scroll down for further information.
Wales: Land Transaction Tax (LTT) now replaces UK Stamp Duty Land Tax (SDLT) in Wales – scroll down for further information.
The following information is to be used as a guide only.
England & Northern Ireland
Stamp duty on residential property is calculated on a progressive sliding scale, with the tax being determined by reference to the SDLT rate for each relevant band – or “slice” – of chargeable consideration:
|Property price||SDLT Rate|
|Up to £125,000||0%|
|£125,000.01 – £250,000||2%|
|£250,000.01 – £925,000||5%|
|£925,000.01 – £1,500,000||10%|
On a property priced at £200,000, stamp duty would be payable on:
2% of £75,000 (the amount above £125,000) = £1,500
3% SDLT Surcharge on Buy to Let and Second Home Purchases
With effect from 1st April 2016, a surcharge of 3% of the total purchase price will apply on purchases of additional residential properties, such as buy to let properties and second homes.
On a buy to let (or second home) property priced at £200,000 stamp duty would be payable on:
£75,000 (the amount above £125,000) = £1,500
Plus 3% of £200,000 = £6,000
Total = £7,500
Stamp Duty relief for first-time buyers
With immediate effect, first-time time buyers will pay no stamp duty on properties costing up to £300k. Discounts are applied on properties costing over £300k up to £500k. Should a property cost more than £500k, the entire discount is lost.
Land & Buildings Transaction Tax (LBTT) Rates
Applicable in Scotland since it replaced the UK stamp duty on 1st April 2015.
LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired.
The structure of LBTT is designed so that the charge is more proportionate to the actual price of the property. Like Stamp Duty, the percentage rate for each band in LBTT is applied only to the part of the price over the relevant threshold and up to the next threshold.
For residential transactions the rates are:
|Purchase price||LBTT Rate|
|Up to £145k||0%|
|Above £145k to £250k||2%|
|Above £250k to £325k||5%|
|Above £325k to £750k||10%|
For non-residential transactions the rates are:
|Purchase price||LBTT Rate|
|Up to £150k||0%|
|Above £150k to £350k||3%|
Relief for first time buyers
The zero tax threshold for first-time buyers is £175,000. First-time buyers buying a property above £175,000 will also benefit from the relief on the portion of the price below the threshold. This means all first-time buyers will benefit from the relief by up to £600.
4% Additional Dwelling Surcharge (ADS) on Buy to Let and Second Home Purchases
From 25 January 2019 an ADS of 4% of the “relevant consideration” (usually the purchase price), will apply to properties of £40,000 or more.
The ADS rate for transactions prior to 25 January 2019 was 3% of the ‘relevant consideration’ (usually the purchase price).
Transitional Provision: Where the effective date of a land transaction is on or after 25 January 2019 and the contract for the land transaction was entered into prior to 12 December 2018, the tax rate of 3% for ADS that was in force prior to 25 January 2019 will apply.
Land Transaction Tax (LTT)
Introduced in April 2018. Land Transaction Tax applies in Wales.
For residential transactions:
|Property Price||LTT RATE|
|Up to £180,000||0%|
|£180,001 to £250,000||3.5%|
|£250,001 to £400,000||5%|
|£400,001 to £750,000||7.5%|
For non-residential transactions:
|Property Price||LTT Rate|
|Up to £150,000||0%|
|£150,001 to £250,000||1%|
|£250,001 to £1,000,000||5%|
In a similar way England, Northern Ireland and Scotland there is a higher residential tax rate in this case of 3% in addition to the LTT rate for purchasing second homes and buy to let properties.