Residential Leases
Written by Ray Coman
Stamp duty land tax payable on the acquisition of a lease differs from outright pruchase. The table below summarises tax costs:
|
Non-residential/mixed use
|
England & NI | Scotland | Wales |
| Price/premium payable | SDLT | LBTT | LTT |
| £0 - £150,000 | Nil | Nil | Nil |
| £150,001 - £250,000 | 2% | 3% | 1% |
| £250,001 - £350,000 | 5% | 3% | 5% |
| £350,001 - £1 million | 5% | 4.5% | 5% |
| Over £1 million | 5% | 4.5% | 6% |
England and Northern Ireland - 1% on present value of rents £150,001 to £5 million. 2% above £5 million.
Scotland - 1% on present value of rents over £150,000.
Wales - 1% on present value of rents £150,000 to £2 million. 2% above £2 million.
