Property Transaction Taxes
Devolution across the UK is leading to different rules and tax rates. This is particularly the case with property transaction taxes, which now use different rates and names depending on where in the UK a purchase takes place.
Stamp Duty and SDRT: stocks and marketable securities |
0.5% |
Second residential properties: £40,000 or more (added to relevant SDLT/LBTT/LTT rate) |
3% |
England & N Ireland - Stamp Duty Land Tax (SDLT) on slices of value |
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Residential property |
% |
Commercial property |
% |
Up to £125,000 |
0 |
Up to £150,000 |
0 |
£125,001 - £250,000 |
2 |
£150,001 – £250,000 |
2 |
£250,001 – £925,000 |
5 |
Over £250,001 |
5 |
£925,001 – £1,500,000 |
10 |
|
|
Over £1,500,000 |
12 |
|
|
First-time buyers: 0% on first £300,000 for properties up to £500,000 |
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Residential properties bought by companies etc over £500,000 – 15% of total consideration |
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Scotland - Land and Buildings Transaction Tax (LBTT) on slices of value |
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Residential property |
% |
Commercial property |
% |
Up to £145,000 |
0 |
Up to £150,000 |
0 |
£145,001 – £250,000 |
2 |
£150,001 – £350,000 |
3 |
£250,001 – £325,000 |
5 |
Over £350,000 |
4.5 |
£325,001 – £750,000 |
10 |
|
|
Over £750,000 |
12 |
|
|
First-time buyers: 0% on first £175,000: max relief £600 from 6/18 (to be confirmed) |
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Wales - Land Transaction Tax (LTT) on slices of value (from 1/4/18) |
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Residential property |
% |
Commercial property |
% |
Up to £180,000 |
0 |
Up to £150,000 |
0 |
£180,001 – £250,000 |
3.5 |
£150,001 – £250,000 |
1 |
£250,001 – £400,000 |
5 |
£250,001 – £1,000,000 |
5 |
£400,001 – £750,000 |
7.5 |
Over £1,000,000 |
6 |
£750,001 – £1,500,000 |
10 |
|
|
Over £1,500,000 |
12 |
|
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