Residential land or property SDLT rates and thresholds

From 4 December, SDLT for residential property is charged at different rates depending on the portion of the purchase price that falls within each rate band. There is no change to how SDLT is calculated on purchases of non-residential property or on the rent payable when a new lease is granted.

The changes will apply to residential properties completed on or after 4 December 2014. Where contracts have been exchanged on or before 3 December 2014, and the transaction is completed on 4 December or later, you can choose whether to use the old or the new rules.

Purchase price of property Rate of SDLT
–Up to £125,000 Zero
Over £125,000 – £250,000 2%
Over £250,000 – £925,000 5%
Over £925,000 – £1,500,000 10%
Over £1,500,000 12%