Stamp Duty Land Tax rates: 25 March 2012 to 23 March 2014
Updated 23 September 2022
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This publication is available at https://www.gov.uk/government/publications/rates-and-allowances-stamp-duty-land-tax/stamp-duty-land-tax-rates-25-march-2012-to-23-march-2014
Stamp Duty Land Tax (SDLT) rate is charged on the whole amount of the consideration.
SDLT rates and thresholds for residential properties
| Purchase price/lease premium or transfer value | SDLT rate |
|---|---|
| Up to £125,000 | Zero |
| Over £125,000 to £250,000 | 1% |
| Over £250,000 to £500,000 | 3% |
| Over £500,000 to £1 million | 4% |
| Over £1 million to £2 million | 5% |
| Over £2 million from 22 March 2012 | 7% |
| Over £2 million (purchased by certain persons, including corporate bodies) from 21 March 2012 | 15% |
Properties bought in a disadvantaged area
If the property is in an area designated by the government as disadvantaged a higher threshold of £150,000 applies for residential properties.
Relief is available on transactions involving residential property in designated disadvantaged areas, where the effective date of the transaction is on or after 1 December 2003 and before 6 April 2013 and the chargeable consideration doesn’t exceed £150,000.
All claims to this relief must be made on or before 5 May 2014.
| Property purchase price | SDLT rate |
|---|---|
| Up to £150,000 | Zero |
| Over £150,000 to £250,000 | 1% |
| Over £250,000 to £500,000 | 3% |
| Over £500,000 £1 million | 4% |
| Over £1 million | 5% |
| Over £2 million - from 22 March 2012 | 7% |
| Over £2 million purchased by certain persons, including corporate bodies - from 21 March 2012) | 15% |
Residential leaseholds
If you buy a new residential leasehold, SDLT is payable on both the:
- purchase price (lease premium) - use the SDLT residential rates
- ‘net present value’ (NPV) of the rent payable
The NPV is based on the value of the total rent over the life of the lease.
| NPV of rent (residential) | SDLT Rate |
|---|---|
| Up to £125,000 | Zero |
| Over £125,000 | 1% |
Non-residential and mixed use properties
Non-residential property includes:
- commercial property such as shops or offices
- agricultural land
- forests
- any other land or property which isn’t used as a dwelling
- 6 or more residential properties bought in a single transaction
A mixed use property is one that incorporates both residential and non-residential elements.
SDLT rates and thresholds for sales and transfers on new non-residential or mixed use land or property
The rates below apply to freehold and leasehold non-residential and mixed use purchases and transfers.
| Purchase price/lease premium or transfer value | SDLT rate |
|---|---|
| Up to £150,000 - if annual rent is under £1,000 | Zero |
| Up to £150,000 - if annual rent is £1,000 or more | 1% |
| Over £150,000 to £250,000 | 1% |
| Over £250,000 to £500,000 | 3% |
| Over £500,000 | 4% |
The annual rent is the highest annual rent known to be payable in any year of the lease, not the NPV used to determine any tax payable on the rent.
SDLT rates and thresholds for rent on new non-residential or mixed use land or property
If you buy a new non-residential or mixed use leasehold property, SDLT is payable on both the:
- lease premium or purchase price
- NPV of the rent payable (this is based on the value of the total rent over the life of the lease)
These are calculated separately and then added together.
| NPV of rent | SDLT rate |
|---|---|
| Up to £150,000 | Zero |
| Over £150,000 | 1% |