Stamp Duty Land Tax rates: 6 April 2011 to 24 March 2012
Updated 23 September 2022
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Stamp Duty Land Tax (SDLT) rate is charged on the whole amount of the consideration.
SDLT rates and thresholds for residential properties
| Purchase price/lease premium or transfer value | SDLT rate | SDLT rate for first-time buyers |
|---|---|---|
| Up to £125,000 | Zero | Zero |
| Over £125,000 to £250,000 | 1% | Zero |
| Over £250,000 to £500,000 | 3% | 3% |
| Over £500,000 to £1 million | 4% | 4% |
| Over £1 million | 5% | 5% |
| Over £2 million - from 22 March 2012 | 7% | 7% |
| Over £2 million purchased by certain persons, including corporate bodies - from 21 March 2012) | 15% | 15% |
First-time buyers
The first time buyer’s £250,000 threshold applies from 25 March 2010 up to 24 March 2012 inclusive.
£1 million threshold for wholly residential property
From 6 April 2011 SDLT on residential properties over £1 million is charged at 5%. It doesn’t apply to non-residential or mixed-use properties.
There are some transitional arrangements for contracts which were entered into before 25 March 2010 but not completed by 6 April 2011 in most of these cases the new rate won’t apply.
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.
| Property purchase price | SDLT rate | SDLT rate for first-time buyers |
|---|---|---|
| Up to £150,000 | Zero | Zero |
| Over £150,000 to £250,000 | 1% | Zero |
| Over £250,000 to £500,000 | 3% | 3% |
| Over £500,000 to £1 million | 4% | 4% |
| Over £1 million | 5% | 5% |
| Over £2 million - from 22 March 2012 | 7% | 7% |
| Over £2 million purchased by certain persons, including corporate bodies - from 21 March 2012 | 15% | 15% |
From 25 March 2010 to 24 March 2012, first-time buyers can claim a relief from SDLT if the amount paid for the property is under £250,000. This relief applies whether or not the property is in an area designated as disadvantaged.
Residential leaseholds
If you buy a new residential leasehold, SDLT is payable on both the:
- purchase price (lease premium) - use the SDLT residential rates
- ‘net present value’ (NPV) of the rent payable
The NPV is based on the value of the total rent over the life of the lease.
| NPV of rent (residential) | SDLT rate (including first-time buyers) |
|---|---|
| Up to £125,000 | Zero |
| Over £125,000 | 1% |
SDLT rates and thresholds for sales and transfers on new non-residential or mixed use land or property
The rates below apply to freehold and leasehold non-residential and mixed use purchases and transfers.
| Purchase price/lease premium or transfer value | SDLT rate (including first-time buyers) |
|---|---|
| Up to £150,000 - if annual rent is under £1,000 | Zero |
| Up to £150,000 - if annual rent is £1,000 or more | 1% |
| Over £150,000 to £250,000 | 1% |
| Over £250,000 to £500,000 | 3% |
| Over £500,000 | 4% |
The annual rent is the highest annual rent known to be payable in any year of the lease, not the NPV used to determine any tax payable on the rent.
SDLT rates and thresholds for rent on new non-residential or mixed use land or property
If you buy a new non-residential or mixed use leasehold property, SDLT is payable on both the:
- lease premium or purchase price
- NPV of the rent payable (this is based on the value of the total rent over the life of the lease)
These are calculated separately and then added together.
| NPV of rent | SDLT rate (including first-time buyers) |
|---|---|
| Up to £150,000 | Zero |
| The remaining amount (the portion above £150,000) | 1% |