Stamp Duty and Annual Tax on Enveloped Dwellings
Shares and securities rate 0.5%
The annual tax on Enveloped Dwellings (ATED) is payable by certain non-natural
persons that own interests in dwellings valued at more than £500,000.
Stamp Duty and Stamp Duty Land Tax (SDLT)
Property in England and N. Ireland
Rate |
Residential Property |
Zero |
£0 - £250,000 |
5% |
£250,001 - £925,000 |
10% |
£925,001 - £1,500,000 |
12% |
Over £1,500,000 |
The SDLT nil rate band for residential properties increased to £250,000 (from £125,000) on 23 September 2022.
This resulted in the removal of the 2% band for properties ranging from £125,000 to £250,000. These changes are temporary and set to revert back to the old rates on 31 March 2025.
No SDLT is payable for first-time buyers making a purchase of up to £425,000 (£300,000 up to 22 September 2022). The relief also applies to the first £425,000 (£300,000 up to 22 September 2022) for purchases up to £625,000 (£500,000 up to 22 September 2022). There is no relief available for first-time buyers spending more than £625,000 (£500,000 up to 22 September 2022) on a property. There are a number of requirements that must be met in order to qualify for the relief.
These changes are temporary and set to revert back to the old rates on 31 March 2025.
There is a 2% surcharge on non-UK residents purchasing residential property.
SDLT on non-residential and mixed used properties.
Rate |
Non-Residential Property |
Zero |
£0 - £150,000 |
2% |
£150,001 - £250,000 |
5% |
Over £250,000 |
The SDLT rates are applied on a graduated basis with the portion of the purchase price within each tier charged at the applicable rate.
15% is applied to residential properties held in a 'corporate envelope' costing over £500,000.
Scotland: Land & buildings transaction tax (SLBTT)
Property in Scotland
Rate |
Residential Property |
Zero |
£0 - £145,000 |
2% |
£145,001 - £250,000 |
5% |
£250,001 - £325,000 |
10% |
£325,001 - £750,000 |
12% |
Over £750,000 |
Non-Residential and mixed use properties.
Rate |
Non-Residential Property |
Zero |
£0 - £150,000 |
1% |
£150,001 - £250,000 |
5 % |
Over £250,000 |
These rates are applied on a graduated basis with the portion of the purchase price within each tier charged at the applicable rate.
There is a 6% (4% prior to 16 December 2022) SLBTT supplement for purchases of additional residential properties.
There is a First Time Buyers Relief from SLBTT for properties under £175,000
Wales: Land Transaction Tax (WLTT)
Rate |
Residential Property |
Zero |
£0 - £225,000 |
6% |
£225,001 - £400,000 |
7.5% |
£400,001 - £750,000 |
10% |
£750,001 - £1,500,000 |
12% |
Over £1,500,000 |
There are currently no further measures specifically targeting first-time buyers in Wales.
There is a WLTT higher rate supplement of 4% on purchases of additional residential properties.
Non-Residential and mixed use properties.
Rate |
Non-Residential Property |
Zero |
£0 - £225,000 |
1% |
£225,001 - £250,000 |
5% |
£250,001 - £1,000,000 |
6% |
Over £1,000,000 |
These rates are applied on a graduated basis with the portion of the purchase price within each tier charged at the applicable rate.