You may or may not be aware that a ‘Stamp Duty’ Land Tax is payable when you buy property in the UK but rates and bands vary between England/Northern Ireland, Scotland and Wales. In addition, when you buy 2nd properties, additional homes, holiday homes or buy to let investments, there is an additional land purchase tax levy.
The Additional Levy for 2nd Property Purchases
England and Northern – Stamp Duty Land Tax (SDLT)
Purchase Price |
Normal SDLT Rate |
SDLT Rate for 2nd or Additional Properties |
£0 to £40,000 |
0% |
0% |
£40,001 to £250,000 |
0% |
3% |
£250,001 to £925,000 |
5% |
8% |
£925,001 to £1.5m |
10% |
13% |
Over £1.5m |
12% |
15% |
Scotland – Land and Buildings Transaction Tax (LBTT)
Purchase Price |
Normal LBTT Rate |
LBTT Rate for 2nd or Additional Properties |
£0 to £40,000 |
0% |
0% |
£40,001 to £145,000 |
0% |
4% |
£145,001 to £250,000 |
2% |
6% |
£250,001 to £325,000 |
5% |
9% |
£325,001 to £750,000 |
10% |
14% |
Over £750,000 |
12% |
16% |
Wales – Land Transaction Tax (LTT)
Purchase Price |
Normal LTT Rate |
LTT Rate for 2nd or Additional Properties |
£0 to £40,000 |
0% |
0% |
£40,001 to £180,000 |
0% |
4% |
£180,001 to £250,000 |
3.5% |
7.5% |
£250,001 to £400,000 |
5% |
9% |
£400,001 to £750,000 |
7.5% |
11.5% |
£750,001 to £1.5m |
10% |
14% |
Over £1.5m |
12% |
16% |
Other Points to Note:
First Time Buyer but Buying Investment Property Rather Than Main Home
UK Resident Buying in UK but already Own Property Overseas
Overseas Buyer