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Stamp Duty Tax Advice

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.

Stamp Duty Tax Calculator

Click here to view the UK Government Stamp Duty Calculator

This calculator can be used for property purchases that are:

  • for first-time buyers
  • replacing main residence
  • additional property
  • residential or non-residential
  • freehold or leasehold

The calculator will work out the SDLT payable for most transactions. You should check the guidance if you are uncertain about how SDLT applies to your purchase or if you believe it may qualify for a relief.

There are different rules for a corporate body purchasing residential property for more than £500,000.

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