Stamp Duty Land Tax Calculator
This Stamp Duty Tax Calculator is now obsolete, please use the Stamp Duty Tax Calculator here. Why is the Stamp Duty Calculator out of date? On December 3rd, 2014, Chancellor George Osborne announced a radical cut in stamp duty as part of the Autumn Statement 2014. With the newly-announced changes, most homebuyers in the UK are expected to save on stamp duty expenses when changing homes. Read the full article about the changes to Stamp Duty Tax Rates here.
This Stamp Duty Tax calculator remains live for historical reference and general interest for finance students etc.
Stamp Duty Land Tax Calculator. Land Tax or Stamp duty as it is more commonly known is a tax applied against Commercial and Residential Properties in the UK which is applied at the point of sale in tiered percentages.
Land Tax has become a good income for the Government over the past 20 years with significant increases in House prices amplifying the Land Tax income. The have been numerous calls to revisit the Land Tax Rates in light of the increase in property prices though Land Tax Rates had barely fluctuated for a number of decades.
Use the Stamp Duty Land Tax (SDLT) calculator tool to calculate the stamp duty charged on purchases of residential, non-residential and mixed-use properties property.
How to Use the Stamp Duty Land Tax Calculator
The Stamp Duty Land Tax Calculator is designed to be intuitive to use.
- Select the Property type (see below for Property Type Definitions).
- Enter the Purchase Price.
- Confirm if you are a Corporate Body, .
- Optional - use the advanced Stamp Duty Land Tax Calculator elements.
What is Stamp Duty Land Tax?
SDLT is charged on land and property transactions in the UK and is payable by the purchaser of the property. The tax is charged at different rates with different thresholds for different types of property and different values of transaction.
The tax rate and payment threshold varies according to whether the property is in residential or non-residential use, and whether it is a freehold or leasehold. SDLT relief is available for certain kinds of property or transaction.
Who Pays Stamp Duty Land Tax?
SDLT is a compulsury tax that the purchaser must pay if the purchased property exceeds a certain price.
Which properties are affected by Stamp Duty Land Tax?
SDLT is charged against all purchases of houses, flats and other land and buildings. Dependant on the purchase price of the property, SDLT is applied against:
A Residential Property is a property which is zoned for homes: multi-family apartments/flats, houses, bungalows, condominiums, etc containing either a single family or multifamily structure, that is available for occupation for non-business purposes.
HMRC Definition of Residetial Property
- A building used or suitable for use as a dwelling, or is in the process of being constructed or adapted for use as a dwelling
- The garden or grounds of such a building, including structures on the garden or grounds
- An interest or right in or over land that benefits a dwelling, for example a right of way to access the dwelling.
Non-residential properties are properties which are not used in any part for residentail use as defined above.
A Property which is only part used as a residential property (e.g. A Flat above a shop).
Who is entitled to Stamp Duty Land Tax Relief?
Stamp Duty Land Tax Relief
SDLT is charged at 15% on residential dwellings costing more than £2 million when purchased by companies, collective investment schemes etc unless the property is used for:
- A property rental business.
- A property development or resale trade.
- Providing admission to visitors on a commercial basis.
If one of the above criterea is met, SDLT will be based on a 7% tax rate.
Disadvantaged Areas Tax Relief
Disadvantaged Areas Relief applies to residential property located in areas designated by the government as disadvantaged.
Multiple Dwellingss Tax Relief
Relief is available where a transaction or a number of linked transactions include freehold or leasehold interests in more than one dwelling.
Relocation Tax Relief
An employer or property trader may buy an employees house when they are moving with their work (relocation). This purchase is exempt from SDLT if specific criterea are met.
Chain Break Tax Relief
A property trader may buy an individual's house to enable the individual to complete the purchase of a home where arrangements to sell the individual's existing home have fallen through when specific criterea are met.
Compulsory Purchase Order Tax Relief
When a Local Authority agrees to make a Compulsory Purchase Order on a property so that a development by another party (typically a property developer) can proceed with development.
Further Tax relief is afforded if, as a condition of granting planning permission to a developer, a planning authority might require the developer to provide amenities for the community - like a school, local park or community project. These requirements are known as planning obligations.
Stamp Duty Land Tax Relief - Further Reading
Further information on SDLT Tax relief can by found at HMRC
Stamp Duty Land Tax Rates
|Purchase price of property||Rate of SDLT (percentage of the total purchase price)|
|£0 - £125,000||0%|
|£125,001 - £250,000||1%|
|£250,001 - £500,000||3%|
|£500,001 - £1 million||4%|
|Over £1 million - £2 million||5%|
|Over £2 million||7%|
|Over £2 million bought by corporate bodies||15%|
Non-residential and mixed-use properties
|Purchase price/lease premium or transfer value||Rate of SDLT (percentage of the total purchase price)|
|Up to £150,000 - annual rent is less than £1,000||Zero|
|Up to £150,000 - annual rent is £1,000 or more||1%|
|Over £150,000 to £250,000||1%|
|Over £250,000 to £500,000||3%|
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