*Calculation based on the Chancellors Autumn Statement on 03/12/2014

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Stamp Duty Land Tax rates

You have to pay Stamp Duty Land Tax (SDLT) if you buy a property in the UK over a certain price. This is charged on all purchases of houses, flats and other land and buildings.

Different rates apply in Scotland from 1 April 2015 when Land and Buildings Transaction Tax (LBTT) replaces SDLT.

The SDLT rate depends on:

  • the purchase price of the property
  • whether the property is residential

SDLT may also be due if you lease a property.

SDLT rates from 4 December 2014

SDLT is charged at different rates depending on the portion of the purchase price that falls into each rate band.

Before 4 December 2014, SDLT was charged as a single percentage of the property price.

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 you follow the new or the old rules.

Residential properties

Purchase price of property Rate of SDLT (percentage of the total purchase price)
£0 – £125,000 0%
£125,001 – £250,000 2%
£250,001 – £925,000 5%
£925,001 – £1.5 million 10%
Over £1.5 million 12%

Corporate bodies

SDLT is charged at 15% on residential dwellings costing more than £500,000 bought by bodies like:

  • companies
  • collective investment schemes

There are some exceptions. For example, you pay SDLT based on the new rates and bands where the property is used for:

  • a property rental business
  • a property development or resale trade
  • providing admission to visitors on a commercial basis

Residential leases

If your residential lease is for more than £125,000, you’ll pay 1% SDLTon the amount above the £125,000 threshold.

Non-residential and mixed-use properties

Purchase price/lease premium or transfer value Rate of SDLT (percentage of the total purchase price)
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%

HM Revenue and Customs (HMRC) has SDLT calculators you can use to work out how much to pay.

For any advice on selling or letting your property please do not hesitate to contact us at Cooper Adams

Click here for our Stamp Duty PDF – stamp duty new 2014