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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-17-march-2005-to-22-march-2006
Stamp Duty Land Tax (SDLT) rate is charged on the whole amount of the consideration.
Stamp Duty Land Tax rates and thresholds for residential properties
|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||Up to £150,000||Up to £120,000||Up to £150,000||Zero|
|Over £150,000 to £250,000||Over £150,000 to £250,000||Over £120,000 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||Over £250,000 to £500,000||3%|
|Over £500,000||Over £500,000||Over £500,000||Over £500,000||4%|
Properties bought in a disadvantaged area
Disadvantaged Area Relief for non-residential land transactions is not available for non-residential land transactions with an effective date on or after 17 March 2005.
However the relief is preserved for the completion of:
- contracts entered into and substantially performed on or before 16 March 2005
- substantial performance of other contracts entered into on or before 16 March 2005, provided that:
- there is no variation or assignment of the contract or sub-sale of the property after 16 March 2005
- the transaction is not in consequence of the exercise after 16 March 2005 of an option or right of pre-emption
Where the relief is preserved, the rates for residential and non-residential land is the same.
All claims to this relief must be made on or before 5 May 2014.
New leases (lease duty)
Duty on rent
|Net present value (NPV) of rent - residential||NPV of rent - non-residential||Rate|
|Up to £120,000||Up to £150,000||Zero|
|Over £120,000||Over £150,000||1%|
If you buy a new lease, SDLT is payable on both the:
- purchase price (lease premium) - use the SDLT residential rates
- NPV of the rent payable
The NPV is based on the value of the total rent over the life of the lease.
Duty on premium is the same as for transfers of land (except special rules apply for premium where rent exceeds £600 annually).