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Current
Stamp duty land tax rates for residential property effective from the
latest
budget.
Stamp
duty is a tax on the property and land transactions in the UK.
There are different percentage rates of tax to be paid to HMRC
depending on the value of the property being purchased and different
rates for residential property, commercial property, freehold and leasehold.
Stamp Duty Land Tax Rates
Previously, SDLT (Stamp Duty Land Tax Rates) was charged at a single rate for the entire price of a property.
Now SDLT charges at increasing rates for each portion of the price.
For Residential properties
SDLT you pay:
0% on the first £125,000 of the property price
2%
on £125,001 - £250,000
5%
on £250,001 - £925,000
10%
on £925,001 - £1.5 million
From
April 2016 there are higher SDLT rates for Buy to
let property purchases:
3% on the first £125,000 of the property price
5%
on £125,001 - £250,000
8%
on £250,001 - £925,000
13%
on £925,001 - £1.5 million
More
information on Stamp Duty
SDLT
info for mixed use property,
commercial property, non-residential, corporate
property and other variations on SDLT can be found
at the UK Government website. See HouseWow useful
property links page below:
Stamp duty land tax
(SDLT) rates
Stamp
Duty Calculator
Use the HM Revenue and Customs
(HMRC) SDLT calculator to work out how much you'll pay.
Stamp
Duty Calculator (Note: This link will
open a new window at HMRC external website.)
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