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 propertyRate of SDLT
–Up to £125,000Zero
Over £125,000 – £250,0002%
Over £250,000 – £925,0005%
Over £925,000 – £1,500,00010%
Over £1,500,00012%

The information in this article is believed to be factually correct at the time of writing and publication, but is not intended to constitute advice.  No liability is accepted for any loss howsoever arising as a result of the contents of this article. Specific advice should be sought before entering into, or refraining from entering into any transaction.