How Much Stamp Duty Land Tax Do I Need to Pay?

How Much Stamp Duty Land Tax Do I Need to Pay?

SDLT on Residential land or property – Freehold or Leasehold

Purchase price/Lease premium or transfer value                             SDLT rate    

Up to £125,000                                                                                                   0%

Over £125,000 to £250,000                                                                             1%

Over £250,000 to £500,000                                                                             3%

Over £500,000 to £1 Million                                                                             4%

Over £1 Million to £ 2million                                                                             5%

From 20 March 2014 SDLT is charged at 15% on interests in residential dwellings costing more than £500,000 purchased by certain non-natural persons.

“Non-natural persons” include companies, partnerships including a company and collective investment schemes. There are exclusions for trustees of a settlement, property rental businesses, property developers and traders, properties made available to the public, financial institutions acquiring dwellings in the course of lending, dwellings occupied by employees and farmhouses.

Non- Residential land or property rates                                               SDLT rate    

Up to £150,000 (annual rent under £1,000)                                                  0%

Over £150,000 (annual rent over £1,000)                                                       1%

Over £150,000 to £250,000                                                                               1%

Over £250,000 to £500,000                                                                               3%