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This publication is available at https://www.gov.uk/government/publications/rates-and-allowances-stamp-duty-land-tax/stamp-duty-land-tax-rates-1-december-2003-to-16-march-2005
Stamp Duty Land Tax (SDLT) rate is charged on the whole amount of the consideration.
SDLT rates and thresholds for residential properties
Transfers of land and buildings (consideration paid)
|Land in disadvantaged areas - residential||Land in disadvantaged areas - non-residential||All other land in the UK - residential||All other land in the UK - non-residential||Rate|
|Up to £150,000||All||Up to £60,000||Up to £150,000||Zero|
|Over £150,000 to £250,000||Over £60,000 to £250,000||Over £150,000 to £250,000||1%|
|Over £250,000 to £500,000||Over £250,000 to £500,000||Over £250,000 to £500,000||3%|
|Over £500,000||Over £500.000||Over £500,000||4%|
Properties bought in a disadvantaged area
If the property is in an area designated by the government as disadvantaged a higher threshold of £150,000 applies for residential properties.
Relief is available on transactions involving residential property in designated disadvantaged areas, where the effective date of the transaction is on or after 1 December 2003 and before 6 April 2013 and the chargeable consideration doesn’t exceed £150,000.
All claims to this relief must be made on or before 5 May 2014.
SDLT isn’t charged on non-residential properties bought in a disadvantaged area.
New leases (lease duty)
Duty on rent
|Net present value (NPV) of rent - residential||NPV of rent - non-residential||Rate|
|Up to £60,000||Up to £150,000||Zero|
|Over £60,000||Over £150,000||1%|
When calculating duty payable on the NPV of leases, you must reduce your NPV calculation by the following before applying the 1% rate:
- residential - £60,000
- non-residential - £150,000
Duty on premium is the same as for transfers of land (except special rules apply for premium where rent exceeds £600 annually).
The rate of stamp duty/stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5% for the tax year 2003 to 2004.