Land Tax Duties
Stamp Duty Land Tax
Residential Land or property
Stamp Duty Land Tax (SDLT) is charged on transactions of land or buildings located in England or Northern Ireland. The amount due is calculated at each rate on the portion of the purchase price which falls within each rate band. The tax is payable within 14 days on the completion date of the deal.
As of April 2024, the bands and rates were:
| Rate | Property value band |
| 0% | Up to £250,000 |
| 5% | £250,001 - £925,000 |
| 10% | £925,001 - £1,500,000 |
| 12% | Over £1,500,000 |
From 1 October 2021 to 22 September 2022
| Rate | Property value band |
| 0% | Up to £125,000 |
| 2% | £125,000 - £250,000 |
| 5% | £250,000 - £925,000 |
| 10% | £925,000 - £1,500,000 |
| 12% | Over £1,500,000 |
From 1st July 2021 to 30 September 2021 the following rates were applied
| Rate | Property value band |
| 0% | Up to £125,000 |
| 5% | £250,000 - £925,000 |
| 10% | £925,000 - £1,500,000 |
| 12% | Over £1,500,000 |
From 1April 2016 a supplement of 3% applies where purchaser owns an interest in two or more homes at the end of the day of the transaction, and the property is not a replacement for their main home, or the purchaser is a corporate body.
First Time buyers' relief
This can apply where all the purchasers of the property have never owned an interest in a residential property. The buyers must intend to live in the home as their main residence and the purchase price must not exceed £625,000.
As of April 2024, first time buyers' relief applies so means eligible buyers will pay 0% on the first £425,000 is and then 5% on the remainder up to the maximum £625,000 price.
Non-Residential or mixed property
| Rate from 17 March 2016 | Purchase price/lease premium or transfer value |
| 0% | Up to £150,000 |
| 2% | £150,001 - £250,000 |
| 5% | Over £250,000 |
Lease rentals
| Effective date | Residential property | Non-residential or mixed property | Rate |
| NPV of rents | NPV of rents | % | |
| From 23 September 2022 to 31 March 2025 | Up to £250,000 | Up to £150,000 | 0 |
| Over £250,000 | £150,001 to £5m | 1 | |
| N/A | Over £5m | 2 | |
| From 1 October 2021 to 22 September 2022 | Up to £125,000 | Up to £150,000 | 0 |
| Over £125,000 | £150,001 to £5m | 1 | |
| N/A | Over £5m | 2 | |
| From 1 July 2021 to 30 September 2021 | Up to £250,000 | Up to £150,000 | 0 |
| Over £250,000 | £150,001 to £5m | 1 | |
| N/A | Over £5m | 2 |
Where the chargeable consideration includes rent, SDLT is payable on the lease premium and on the 'net present value' (NPV) of the rent payable.
Where the annual rent for the lease of non-residential property amounts to £1,000 or more, the 0% SDLT band is unavailable in respect of any lease premium.
Land and buildings transaction tax
Residential Land or property
Land and buildings transaction tax (LBTT) is charged on transactions concerning property located in Scotland from 1 April 2015.
As of April 2024, the bands and rates were as follows:
| Band | Rate |
| £0-145,000* | 0% |
| £145,0001 - £250,000 | 2% |
| £250,001 - £325,000 | 5% |
| £325,001 - £750,000 | 10% |
| £750,000 and above | 12% |
* For first-time buyers the nil rate band ceiling is £175,000 due to a tax relief.
The Additional Dwelling Supplement (ADS) may also apply at a flat 6% rate for some transactions.
Non-Residential or mixed property
| Rate from 7 February 2020 | Purchase price/lease premium or transfer value |
| 0% | Up to £150,000 |
| 1% | £150,001 - £250,000 |
| 5% | Over £250,000 |
Lease rentals
| Rate from 7 February 2020 | NPV of rents |
| 0% | Up to £150,000 |
| 1% | £150,001 to £2 million |
| 2% | Over £2 million |
Land Transaction Tax
Land transaction tax (LTT) applies to transactions of land and property located in Wales from 1 April 2018. The higher rates, shown below, may apply for those buyers who already own one or more residential properties.
Residential property
Rates as of April 2024:
| Wholly residential property value: | Main rate % | Wholly residential property value: | Higher rates % |
| Up to £225,000 | 0% | Up to £180,000 | 4.0 |
| £225,001 - £400,000 | 6.0 | £180,001 - £250,000 | 7.5 |
| £400,001 - £750,000 | 7.5 | £250,001 - £400,000 | 9.0 |
| £750,001 - £1,500,000 | 10.0 | £400,001 - £750,000 | 11.5 |
| Over £1,500,000 | 12.0 | £750,001 - £1,500,000 | 14.0 |
| Over £1,500,000 | 16.0 |
Non-residential and mixed use.
Shops, offices and agricultural land are examples of where this might apply.
Rates as of April 2024:
| Purchase price | Rate for freehold purchase or lease premium |
| Up to £225,000 | 0% |
| £225,000 to £2 million | 1% |
| £250,000 to £1 million | 5% |
| Over £1 million | 6% |
Lease rentals
| NPV of rents threshold | Rate |
| Up to £225,000 | 0% |
| £225,000 to £2 million | 1% |
| Over £2 million | 2% |
