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Stamp Duty Land Tax: Revised rates from 1 October 2021

by | Oct 4, 2021 | Clients, News

Since October 1st, there are revised Stamp Duty Land Tax (SDLT) rates.

These rates also apply if you bought a property before 8 July 2020.

You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).

Property or lease premium or transfer value SDLT rate
Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

 

Example

In October 2021 you buy a house for £295,000. The SDLT you owe will be calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the final £45,000 = £2,250
  • total SDLT = £4,750

Use the SDLT calculator to work out how much tax you’ll pay.

Higher rates for additional properties

You will usually have to pay 3% on top of SDLT rates if buying a new residential property means you will own more than one.

For more information including special rates and circumstances, visit the government’s SDLT page.

 

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