Stamp Duty Land Tax – Sign Post

Author

Andy Wood

Andy is a practical, creative tax adviser who assists a variety of clients in achieving their personal and commercial objectives in the most tax efficient manner.

Stamp Duty Land Tax – Sign Post

Introduction

Stamp Duty Land Tax (“SDLT”) is payable by the purchaser where there is a chargeable land transaction.

It applies to transactions that take place in England & Northern Ireland. Scotland and Wales now have their own equivalent tax.

Clearly, this includes the simple conveyance of land such as buying a residential property to live in. However, it will also include the creation or assignment of a lease.

For more general information then see our article ‘What is stamp duty land tax?’

SDLT Rates

Depending on the type of property acquired – residential or non-residential – the type of purchaser and the value of the property then the applicable stamp duty rate is applied to the chargeable consideration.

For more information see our article ‘Stamp duty rates‘.

You can use our ‘SDLT calculator‘ to give you an idea of the tax payable on a proposed property purchase.

3% SDLT Surcharge

Where:

  • a property is acquired by an individual as a second property; or
  • the property is purchased by a Company

then there is a 3% SDLT surcharge on the purchase. More detail on this can be found in our article on ‘Stamp duty rates‘.

There is a relief from this charge where there the ‘Replacement of main residence‘ exception applies.

Company Property Purchase

Different rates can apply where there is a ‘Company purchase.’

SDLT Reliefs

There are a number of reliefs that may apply for SDLT purposes.

See our article on ‘First time buyers relief‘.

See our article on ‘Multiple Dwellings Relief‘.

Derelict Property

See our article on stamp duty and ‘derelict property‘.

How can we help?

If you or your clients have any queries regarding SDLT then we are able to provide detailed advice regarding the position.

We can also review the position to ensure that all applicable SDLT reliefs are claimed.

 

If you have any queries regarding SDLT, or any property tax matters, then please do not hesitate to get in touch

 

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