Stamp Duty Land Tax regime changes at MIDNIGHT TONIGHT!

Being on the property ladder, you should already know that you have to pay Stamp Duty Land Tax (SDLT) when buying a property in the United Kingdom, over a certain price.
The SDLT is charged on all purchases of house, flats, land and buildings.

The following SDLT rates will be dependent on whether the property is residential and also dependent on the purchase price of the property.

"Under the new reforms:

• No Stamp Duty Land Tax payable at all on properties up to £125,000
• The first £125,000 on properties to be free of Stamp Duty Land Tax
• Then 2% payable on the portion up to £250,000
• Payable at 5% on the portion up to £925,000
• Payable at 10% on the portion up to £1.5m
• Then payable at 12% on the portion over that amount."

- http://www.propertyindustryeye.com/stamp-duty-land-tax-reforms-midnight-tonight/


For non-residential and mixed use properties the Stamp Duty Land Tax differs. However, if your lease is for a residential property (which is for more than £125,000) then you will have to pay 1% SDLT on all amounts over the threshold of £125,000.

For further clarification on the new regimes, then please follow: https://www.gov.uk/stamp-duty-land-tax-rates


PLEASE NOTE: Different rates will be applying throughout Scotland effective from April 1st 2015 when the LBTT (Land and Buildings Transaction Tax) replaces the Stamp Duty Land Tax.