Stamp Duty Land Tax
Rates
No further changes to SDLT rates were announced. This confirms that the rate on transfers of residential property for more than £1m will increase from 4% to 5% on 6 April 2011.
| Rates On Sales |
% of Total Consideration |
|
|---|---|---|
| Shares and marketable securities (nil if value up to £1,000) |
0.5% | |
| Land |
0 - Threshold |
NIL |
| Threshold - £250,000 | 1% | |
| £250,001 - £500,000 | 3% | |
| £500,001 and over (all properties) | 4% | |
| Over £1M (residential from 6.4.2011) | 5% | |
| The threshold is: |
||
| £125,000 general residential property | ||
| £150,000 residential in "disadvantaged areas" | ||
| £150,000 commercial property |
For the two years to 24.3.2012, first time buyers can claim relief from SDLT on purchases of up to £250,000 for property they intend to live in.
