Following the 2014 autumn statement Stamp Duty Land Tax (SDLT) has been restructured for residential land transactions. Instead of the single slab approach in which one rate of tax applies to the entire purchase price, SDLT is now paid at the rate of tax applicable to the purchase price within each band. To arrange a free initial discussion at your home, workplace or our offices contact us today. 

Stamp Duty Land Tax – Residential land transactions from 4th December 2014

Slice of purchase price Residential Non Residential Rate
£0.00 - £125,000 0% 0% 0%
125,001 - £250,000 2% 2% 2%
£250,001 - £925,000 5% Over £250,000 5%
£925,001 -£1,500,000 10%
£1,500,001 + 12%

The top rate applicable for residential land transactions is now 12 % on the slice above £1.5 million.

Corporate bodies – SDLT continues to be charged at the anti-avoidance rate of 15% on residential dwellings with a value over £500,000.

Rates may be increased by 3% where further residential properties costing £40,000 or over are acquired on or after 1st April 2016.

You can also read useful information from the government on Stamp Duty Tax.

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