Find a service

T. 0114 276 5555

Update Regarding Stamp Duty Land Tax Rates For Residential Property From 4 December 2014

Share this page:

From the 4 December 2014 revised rates of Stamp Duty Land Tax (“SDLT”) in respect of residential property will be charged based on the proportion of the purchase price which falls within each of the new SDLT bands as follows:-

Up to £125,000.00 0%
Over £125,000.00 to £250,000.00 2%
Over £250,000.00 to £925,000.00 5%
Over £925,000.00 to £1,500,000.00 10%
Over £1,500,000.00 12%

No SDLT is payable on the first £125,000.00 of the purchase price.  Any part of the price above £125,000.00 will be apportioned at the above rates.

For example if a buyer purchases a property for £925,000.00 the first £125,000.00 will be exempt from SDLT, the proportion from £125,000.00 up to £250,000.00 will be charged at 2% (£125,000.00 at 2%) and the balance will be charged at a rate of 5% (£675,000.00 at 5%).

There has been no change as to how SDLT is calculated for commercial properties or for the rent payable on new leases.

Should you require any advice or assistance in respect of the new rates of SDLT please do not hesitate to contact a member of the property team for further information.

Share this page:

Get in Touch