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
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