Stamp duty & land taxes

The current percentages of stamp duty and the various UK property/land transaction taxes.

Stamp Duty

When you buy shares, you usually pay a tax or duty of 0.5% on the transaction. If you buy shares electronically Stamp Duty Reserve Tax (SDRT) is payable. For shares purchased using a stock transfer form, you will pay Stamp Duty if the transaction is over £1,000.

Stamp Duty Land Tax

SDLT is payable on land and property transactions in England and Northern Ireland.

Property transactions in Scotland are subject to Land and Buildings Transaction Tax (LBTT).

Property transactions in Wales are subject to Land Transaction Tax (LTT).

Residential property

The rates apply to the portion of the total value which falls within each band.

Consideration (£) Rate (%)
0 - 500,000 0
500,001 - 925,000 5
925,001 - 1,500,000 10
1,500,001 and above 12

Rates apply form 8 July 2020 to 31 March 2021.

These rates may be increased by 3% where further residential properties, costing over £40,000, are acquired.

Non-residential property

The rates apply to the portion of the total value which falls within each band.

Consideration (£) Rate (%)
0 - 150,000 0
150,001 - 250,000 2
Over 250,000 5

Land and Buildings Transaction Tax

Land and Buildings Transaction Tax (LBTT) is payable on land and property transactions in Scotland.

Residential property

Consideration (£) Rate (%)
0 - 250,000 0
250,001 - 325,000 5
325,001 - 750,000 10
750,001 and above 12

The rates apply to the portion of the total value which falls within each band.

Rates apply from 15 July 2020 to 31 March 2021.

Residential rates may be increased by 4% where further residential properties, costing over £40,000, are acquired.

Non-residential property

Consideration (£) Rate (%)
0 - 150,000 0
150,001 - 250,000 1
Over 250,000 5

The rates apply to the portion of the total value which falls within each band.

Land Transaction Tax

Land Transaction Tax (LTT) is payable on land and property transactions in Wales.

Residential property

Consideration (£) Rate (%)
0 - 250,000 0
250,001 - 400,000 5
400,001 - 750,000 7.5
750,001 - 1,500,000 10
1,500,000 and above 12

The rates apply to the portion of the total value which falls within each band. Rates apply from 27 July 2020 to 31 March 2021.

Higher residential tax rates

Higher residential rates may apply when you already own one or more residential properties.

Consideration (£) Rate (%)
0 - 180,000 3
180,001 - 250,000 6.5
250,001 - 400,000 8
400,001 - 750,000 10.5
750,001 - 1,500,000 13
1,500,000 and above 15

The rates apply to the portion of the total value which falls within each band.

Non-residential property

Consideration (£) Rate (%)
0 - 150,000 0
150,000 - 250,000 1
250,001 - 1,000,000 5
Over 1,000,000 6

The rates apply to the portion of the total value which falls within each band.

Come And Meet Us

Initial meetings are free of charge and totally without obligation

Call us

Contact Us

T: 01604 718866
F: 01604 716880
E: info@phm-accountants.co.uk

Social

Home | Privacy | Site map | Contact us | Accessibility | Disclaimer | Help | Diversity Report

© 2020 Phipps Henson McAllister. All rights reserved.

powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.

Phipps Henson McAllister are registered to carry on audit work in the UK & Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditorsfor Ireland, under reference number EWC008449569.

This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.