Stamp Duty Land Tax 2018

Published / Last Updated on 06/04/2018

Stamp Duty Land TaxesStamp Duty 2018 - SDLT - Stamp Duty Land Tax known as Stamp Duty

Stamp Duty is usually to HMRC by your Solicitor on completion of the purchase and the amount due will depend upon the value of your property.

Before 04/12/2014 Stamp Duty Land Tax (not in Scotland) was charged at a single % rate on the full property price but after this date, tax is paid as a % of the purchase price in bands as follows (Note Scotland has its own rate and Wales will start having its own rates 01/04/18).

 Stamp Duty Tax Rates (not Scotland) 06/04/2018 to 05/04/2019 
 Rates    Residential Property Value Tiers
 0.000000000 %    £0 to £125000
 2.000000000 %    £125000 + to £250000
 5.000000000 %    £250000 + to £925000
 10%    £925000 + to £1500000
 12%    £1500000 +
    For example, a property bought for £350,000 has SDLT payable at £250,000 X 2% plus £100,000 X 5%
     
    Property bought inside a corporate envelope e.g. Ltd Company
    taxed at above rates until value £500,000 then
 15%    £500,000 + enveloped dwellings *

* Enveloped Dwellings Stamp Duty: Higher Rate of Stamp Duty payable if a residential property is bought by a 'none natural person' e.g. a corporate structure, a business, a partnership, a collective investment, a  trust.  The limit for the higher 15% rate stamp duty was £2,000,000+ properties but this was brought down to £500,000+ properties with effect 20 March 2014.  There is also a yearly tax payable on see Annual Tax on Enveloped Dwellings (ATED)

Shared Ownership:  stamp duty land tax is not due on shared equity scheme property until ownership reaches 80%
Zero Carbon Flats:  No stamp duty land tax is payable on zero carbon flats purchased up to £500,000

 

Scotland Land & Buildings Transaction Tax

Scotland introduced a separate Land & Buildings Transaction Tax (LBTT) with effect from 01/04/2014.

 Land & Buildings Transaction Tax Rates 06/04/2018 to 05/04/2019 
 Rates    Residential Property Value Tiers
 0%    £0 to £145,000
 2%    £145,001 to £250,000
 5%    £250,001 to £325,000
 10%    £325,001 to £750,000
 12%    £750,000 +

 

Wales Land Transaction Tax

Wales has its own separate Land Transaction Tax (LTT) from 01/04/2018.

 Wales Land Transaction Tax Rates 01/04/2018
 Rates    Residential Property Value Tiers
 
 0%    £0 to £180,000  
 3.5%    £180,001 to £250,000  
 5%    £250,001 to £400,000  
 7.5%    £400,001 to £750,000  
 10%    £750,001 to £1,500,000  
 12%    £1,500,000 +  

Speak to us today and find out if you have to pay stamp duty on your property.


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