Property Stamp Taxes
Written by Ray Coman
A more detailed explanation about taxes on the purchase for residential and non residential property can be found in the guide on Stamp Duty Land Tax (SDLT)
p>
|
Residential
|
England & NI | Scotland | Wales |
| Price/premium payable | SDLT | LBTT | LTT |
| £1 - £125,000 | Nil | Nil | Nil |
| £125,001 - £145,000 | 2% | Nil | Nil |
| £145,001 - £180,000 | 2% | 2% | Nil |
| £180,001 - £250,000 | 2% | 2% | 3.5% |
| £250,001 - £325,000 | 5% | 5% | 5% |
| £325,001 - £400,000 | 5% | 10% | 5% |
| £400,001 - £750,000 | 5% | 10% | 7.5% |
| £750,001 - £925,000 | 5% | 12% | 10% |
| £925,001 - £1.5 million | 10% | 12% | 10% |
| Over £1.5 million | 12% | 12% | 12% |
Notes:
3% supplement to above rates for second properties and all purchases above £40,000 by corporates, discretionary and certain other trustees.
Enveloped properties in England and Northern Ireland above £500,000 at a flat 15% SDLT rate, unless a relief is available.
LTT in Wales introduced from 1 April 2018.
From 22 November 2017, first time buyer exemption from SDLT for purchases up to £300,000 and for the first £300,000 of purchases up to £500,000.
From 1 April 2018, first time buyer relief from LBTT for the first £175,000 of relevant property purchases.
