New Stamp Duty Land Tax Rates end of 2014
Previosuly, SDLT was charged at a single rate for the whole purchase price of a property. However, from 4th December it is charged at increasing rates for each portion of the price.
The following rates are due to be paid for resindetial properties:
- nothing on the first £125.000 of the property price
- 2% on the next £125.000
- 5% on the next £675.000
- 10% o the next £575.000
- 12% on the rest (above £1.5 million)
For example, if you buy a property for £275.000, you will pay £3,750 of SDLT.
- nothing on the first £125.000
- £2,500 on the next £125.000
- £1,250 on the remaining £25.000
SDLT is charged at 15% for corpoarte bodies (such as companies and collective investment schemes) on residential properties costing more than £500.000
If it is a residential lease more than £125.000, Stamp duty will be paid at 1% on the amount above the £125.000 threshold.