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Stamp Duty Land Tax and Stamp Duty

Stamp duty land tax (SDLT), stamp duty and stamp duty reserve tax (SDRT) are charged on many transactions in land and shares. It is normally due from the purchaser.

Residential property

Purchase priceSDLT rate on the band*
Up to £125,000 Nil
£125,001 – £250,000 2%
£250,001 – £925,000 5%
£925,001 – £1.5m 10%
£1.5m + 12%

*A rate of 15% may apply to the total purchase price where the property is valued above £500,000 and purchased by a 'non-natural person' (e.g. a company).

Commercial property

Purchase priceSDLT rate on total price
Up to £150,000 Nil
£150,001 – £250,000 1%
£250,001 – £500,000 3%
£500,000 + 4%

Land and Buildings Transaction Tax (LBTT)

From 1 April 2015, SDLT is replaced in Scotland by LBTT. Like SDLT, it is payable by the purchaser.

Residential property

Purchase priceRate on band
Up to £145,000 Nil
£145,001 - £250,000 2%
£250,001 - £325,000 5%
£325,001 - £750,000 10%
£750,000 + 12%

Commercial property

Purchase priceRate on band
Up to £150,000 Nil
£150,001 - £350,000 3%
£350,000 + 4.5%

Stamp duty on shares

No duty if consideration does not exceed £1,000, otherwise 0.5% of total consideration, rounded up to the nearest £5. Gifts, legacies and other 'gratuitous transfers' are generally not liable to duty at all.

Purchases of marketable securities are instead subject to 0.5% Stamp Duty Reserve Tax (SDRT), unless exempted (e.g. purchases of gilts).

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Directors:  Paul Cutter FCA | Kate Jones FCCA, ACA | Dave Hazlehurst FCCA, CTA

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