Page 26 - Budget Newsletter 2021

STAMP DUTY LAND TAX, LAND AND BUILDINGS TRANSACTION TAX, LAND
RESTRICTION TAX AND STAMP DUTY

England and Northern Ireland: Stamp Duty Land Tax (SDLT) from 1 October 2021 on slices of value

RESIDENTIAL PROPERTY % COMMERCIAL PROPERTY %

Up to £125,000 0 Up to £150,000 0
£125,001 – £250,000 2 £150,001 – £250,000 2
£250,001 – £925,000 5 Over £250,000 5
£925,001 – £1,500,000 10
Over £1,500,000 12

• 15% for purchases over £500,000 by certain non-natural persons.
• First-time buyers: first £300,000 slice of value at 0% if property consideration is not more than £500,000.
• All rates increased by 3% for purchase of additional residential property if value is £40,000 or more.
• All rates increased by 2% for purchase of residential property by non-UK resident if value is £40,000 or more.
• For qualifying property in English Freeports, a 0% SDLT rate applies.

Scotland: Land and Buildings Transaction Tax (LBTT) from 1 April 2021 on slices of value

RESIDENTIAL PROPERTY %¶ COMMERCIAL PROPERTY %

£145,000* or less 0 £150,000 or less 0
£145,001* to £250,000 2 £150,001 to £250,000 1
£250,001 to £325,000 5 Over £250,000 5
£325,001 to £750,000 10
Over £750,000 12

¶ All rates increased by 4% for purchase of additional residential property if value is £40,000 or more.
• £175,000 for first-time buyers.

Wales: Land Transaction Tax (LTT) from 1 July 2021 on slices of value

RESIDENTIAL PROPERTY %¶ COMMERCIAL PROPERTY %

£180,000 or less 0 £225,000 or less 0
£180,001 to £250,000 3.5 £225,001 to £250,000 1
£250,001 to £400,000 5 £250,001 to £1,000,000 5
£400,001 - £750,000 7.5 Over £1,000,000 6
£750,001 to £1,500,000 10
Over £1,500,000 12

¶ All rates increased by 4% for purchase of additional residential property if value is £40,000 or more.

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