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  • SDLT on residential land or property - SDLT rates from 24 March 2012 to 19 March 2014

SDLT rates from 24 March 2012

SDLT rates from 4 December 2014

Residential land or property SDLT rates and thresholds

From 4 December, SDLT for residential property is charged at different rates depending on the portion of the purchase price that falls within each rate band. There is no change to how SDLT is calculated on purchases of non-residential property or on the rent payable when a new lease is granted.

The changes will apply to residential properties completed on or after 4 December 2014. Where contracts have been exchanged on or before 3 December 2014, and the transaction is completed on 4 December or later, you can choose whether to use the old or the new rules.

Purchase price of property

Rate of SDLT

Up to £125,000

Zero

Over £125,000 to £250,000

2%

Over £250,000 to £925,000

5%

Over £925,000 to £1.5 million

10%

Over £1.5 million

12%

 

Example: A buyer exchanges contracts for the purchase of a house for £275,000 on 5 December 2014, with completion expected to in February 2015. Under the new rules the SDLT is calculated as follows:

 

0% on the first £125,000 =

£0

2% on the next £125,000 =

£2,500

5% on the final £25,000 =

£1,250

Total SDLT payable =

£3,750

 

If you have any questions contact us

 

SDLT rates from 24 March 2012 to 3 December 2014

Residential land or property SDLT rates and thresholds

Purchase price/lease premium or transfer value

SDLT rate

Up to £125,000

Zero

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 £2 million

5%

Over £2 million from 22 March 2012

7%

Over £2 million (purchased by certain persons, including corporate bodies) from 21 March 2012

15%

In the case of a new lease with a substantial rent, please also see the table below 'SDLT on rent for new residential leases'.

For conditions that apply to the 15% rate see SDLT rates and thresholds - full details.

SDLT on rent for new residential leases

Net present value of rent - residential

SDLT rate

Up to £125,000

Zero

Over £125,000

1% of value that exceeds £125,000

For conditions that apply to the 15% rate see SDLT rates and thresholds - full details.

SDLT on non-residential or mixed use property or land

SDLT on non-residential or mixed use property or land - freehold or leasehold

Purchase price/lease premium or transfer value

SDLT rate

Up to £150,000 - annual rent is less than £1,000

Zero

Up to £150,000 - annual rent is £1,000 or more

1%

Over £150,000 to £250,000

1%

Over £250,000 to £500,000

3%

Over £500,000

4%

For conditions that apply to the 15% rate see SDLT rates and thresholds - full details.

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SDLT on rent for non-residential or mixed use properties or land - new leases

Net present value of rent

SDLT rate

£0 - £150,000

Zero

Over £150,000

1% of the value that exceeds £150,000

SDLT rates and thresholds - full details.

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