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

RateResidential 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. 

RateNon-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

RateResidential 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.

RateNon-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)

RateResidential 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.

RateNon-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

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