when purchasing a property, you are required to pay a form of tax to the government called ‘stamp duty land tax’ or 'land transaction tax'.
get quick, practical and accurate answers to specific points of law in stamp duty land tax. keep up to date with precedents, guidance notes & q&as.
log in to hmrc
if you buy either property or land in the uk you have to pay stamp duty land tax (sdlt). use our stamp duty calculator to calculate stamp duty for buy, to let & second homes.
stamp tax analysis, planning and compliance advice to a variety of uk and non-uk resident clients and other professionals
you pay stamp duty land tax (sdlt) when you buy houses, flats and other land and buildings over a certain price in the uk.
check if you need to pay land transaction tax (ltt) when you buy or lease property or land in wales.
here
stamp duty land tax (sdlt) relief is available if you are a first-time buyer purchasing a residential property of £500,000 or less.
sdlt: in brief the standard rate of sdlt for residential property is currently up to 12 per cent. rates are banded, with the top rate being paid on the portion of the purchase price in excess of £1.5 million. however, if the purchaser (or their spouse or minor child) owns another residential property anywhere in the world, then there is a 3 per cent surcharge on top of the standard rates, bringing the top rate to 15 per cent. this 3 per cent surcharge will be refunded if the new uk property is bought as a replacement for the purchaser’s previous only or main residence (which they sell within three years of purchasing the new uk property). the rates of sdlt climb again if the purchaser is non-resident. a person will be non-resident for sdlt purposes if, broadly, they have spent fewer than 183 days in the uk in the 12 months either side of the purchase of the uk property. a non-resident purchaser is subject to an additional 2 per cent surcharge, increasing the top rate of sdlt to 17 per cent if they own another property. matters are worse still if the purchaser is a corporate entity, for which the rate of sdlt is usually a flat 15 per cent, or 17 per cent if the company is non-resident (so all of the purchase price is taxed at 15 per cent or 17 per cent, rather than only the portion above £1.5 million). there is an exemption available from the flat rate if the property is bought for the purposes of a property letting or development business, in which case the banded standard rates above (including the 3 per cent surcharge) will appl, representing a modest sdlt saving. llc considerations many us clients will have interests in one or more limited liability corporations (llcs). in the us, llcs typically offer the benefits of limited liability combined with tax transparency (so that the members are taxed directly on their share of the underlying income and gains of the llc, as if it were a partnership in uk terms). however, the same is not true in the uk. hmrc treats most llcs as companies and regards them as ‘opaque’ for uk tax purposes and taxable in their own right. this can pose a problem for uk resident us citizens if it causes a mismatch in the source of income derived from the llc for the purpose of the double taxation agreements between the us and uk, leading to potential double taxation. in addition a us llc is not recommended as a vehicle for purchasing uk residential property for occupation by the owner. doing so will trigger sdlt at the flat rate for corporate purchasers of 15 per cent (17 per cent if the llc is not uk resident) and will, in addition, incur annual ated charges if the property is occupied by a member of the llc. since 2017, ownership through a non-uk company no longer shields the property from inheritance tax. on the flip side, hmrc’s position on llcs means that property already held within an llc should not be taken into account in assessing whether the purchaser is subject to the 3 per cent surcharge. in certain circumstances it may be possible for a us client to transfer their other (us) property into an llc prior to purchasing a uk property to achieve the same result. however, it will be essential to take careful uk tax advice to ensure that widely drafted sdlt anti-avoidance provisions are safely navigated. local tax advice in the us (and any other relevant jurisdictions) will also be essential in case there are adverse non-uk tax consequences. this publication is a general summary of the law. it should not replace legal advice tailored to your specific circumstances. © farrer & co llp, february 2024
navigate stamp duty land tax effectively with birketts. expert tax services for businesses, ensuring compliance and optimizing outcomes.
our agricultural property solicitors reveal whether you have to pay stamp duty land tax on agricultural land and how much it may cost.
discover how much stamp duty to pay and which homes best suit you with our stamp duty calculator. suitable for movers, second homes and first time buyers
an act to make provision to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.
use the stamp duty land tax calculator to find out how much stamp duty you'll need to pay on a leasehold property.
scottish government information on the land and buildings transaction tax (lbtt) and the reliefs and supplements that sometimes apply.
stamp duty land tax is a government tax which is paid by the buyer of a property on completion. learn about what stamp duty is and how it works here.
a stamp duty land tax (sdlt) is a tax imposed by the u.k. government on the purchase of land and properties with values over a certain threshold.
if you’re buying your next home, or a first home priced over £300,000, you will have to pay stamp duty. here
stamp duty land tax (sdlt) is a significant expense that homebuyers in the united kingdom must consider when purchasing a property. as property transactions involve various financial considerations, the question arises: is it possible to delay the payment of stamp duty land tax? in this blog post, we will examine the current rules surrounding sdlt payments, discuss potential scenarios where payment may be delayed, and explore the implications of such delays. understanding stamp duty land tax (sdlt) payment deadlines: sdlt is typically payable within 14 days of the completion of a property transaction. the tax amount is calculated based on the purchase price of the property, with different thresholds and rates depending on the type of property and the buyer's circumstances.
questions about the complicated area of sdlt and stamp duty? patrick cannon answers your most pressing questions about stamp duty on this helpful page.
uk stamp duty land tax (sdlt) rates when buying a home, second house or a buy-to-let property investment as an investor
holding & anor v hmrc continues a trend, with the key takeaway being the ‘use’ in mixed use.
a guide and calculator for stamp duty related to your purchase
our helpful guide on how you could make savings on stamp duty land tax. we have seen a number of clients overpaying their sdlt liability as they were unaware that their recent property purchase qualified for a relief.
this guide covers everything you need to know about how much stamp duty or land tax you could have to pay on your next home.
navigate stamp duty land tax (sdlt) complexities. avoid overpayment when buying property or land. get expert advice today.
what are the stamp duty rules and rates across the uk?
our new build team have extensive experience and knowledge when advising and dealing with stamp duty land tax on all property transactions.
sdlt calculator | easily calculate stamp duty land tax for uk property
the stamp duty land tax (sdlt) threshold has risen to £250,000. but do you need to pay stamp duty? if so, how much do you need to pay?
our complete guide to stamp duty in the uk. find information on calculating stamp duty, buying a second property and how stamp duty affects first time buyers.