Autumn Budget 2024
Stamp duty land taxes: UK
ENGLAND & NORTHERN IRELAND: STAMP DUTY LAND TAX (SDLT) RATES
Residential properties: 23 September 2022 – 30 October 2024
| Property value | UK residents | Non-UK residents | ||
| Only property | Additional property | Only property | Additional property | |
| Up to £250,000 | Nil | 3% | 2% | 5% |
| Next portion from £250,001 to £925,000 | 5% | 8% | 7% | 10% |
| Next portion from £925,001 to £1,500,000 | 10% | 13% | 12% | 15% |
| Remaining amount above £1,500,000 | 12% | 15% | 14% | 17% |
Residential properties: 31 October 2024 – 31 March 2025
| Property value | UK residents | Non-UK residents | ||
| Only property | Additional property | Only property | Additional property | |
| Up to £250,000 | Nil | 5% | 2% | 7% |
| Next portion from £250,001 to £925,000 | 5% | 10% | 7% | 12% |
| Next portion from £925,001 to £1,500,000 | 10% | 15% | 12% | 17% |
| Remaining amount above £1,500,000 | 12% | 17% | 14% | 19% |
Residential properties: From 1 April 2025
| Property value | UK residents | Non-UK residents | ||
| Only property | Additional property | Only property | Additional property | |
| Up to £125,000 | Nil | 5% | 2% | 7% |
| Next portion from £125,001 to £250,000 | 2% | 7% | 4% | 9% |
| Next portion from £250,001 to £925,000 | 5% | 10% | 7% | 12% |
| Next portion from £925,001 to £1,500,000 | 10% | 15% | 12% | 17% |
| Remaining amount above £1,500,000 | 12% | 17% | 14% | 19% |
Note 1: From 1 April 2016, higher rates of SDLT apply on purchases of additional properties by individuals. This rate is also payable by companies and other entities.
Note 2: From 1 April 2021, non-UK residents purchasing a residential property in England and Northern Ireland will be subject to a 2% SDLT surcharge in addition to the main rate SDLT payable by UK residents.
Note 3: Higher rates do not apply while replacing main residence, subject to meeting certain conditions or for purchases under £40,000.
Note 4: Sliding-scale rates do not apply when residential property is acquired by certain corporates and ‘non-natural persons’ (companies, partnerships with a company as a partner and collective investment schemes) for more than £500,000. Instead, these entities pay a flat rate of 17% SDLT from 31 October 2024 (15% up to 30 October 2024) (19% and 17% for non-UK resident entities for respective dates), subject to relief for qualifying activities or bodies. ‘Non-natural persons’ may also be subject to the Annual Tax on Enveloped Dwellings (ATED) regime.
| SDLT for first-time buyers from 1 April 2025 | Rates of tax |
| Up to £300,000 | Nil |
| Next portion from £300,001 to £500,000 | 5% |
| Remaining amount above £500,000 | Standard rates apply |
| SDLT for first-time buyers
from 23 September 2022 – 31 March 2025 |
Rates of tax |
| Up to £425,000 | Nil |
| Next portion from £425,001 to £625,000 | 5% |
| Remaining amount above £625,000 | Standard rates apply |
Non-residential properties or mixed-use properties
| Property or lease premium or transfer value | Rates of tax |
| Up to £150,000 | Nil |
| The next portion from £150,001 to £250,000 | 2% |
| The remaining amount above £250,000 | 5% |
New leasehold properties: SDLT rates on net present value (NPV) of rent: 23 September 2022 – 31 March 2025
| Residential property | Non-residential or mixed-use properties | Rates of tax |
| Up to £250,000 | Up to £150,000 | Nil |
| Over £250,000 | Next portion from £150,001 to £5m | 1% |
| Over £5m | 2% |
New leasehold properties: SDLT rates on net present value (NPV) of rent: From 1 April 2025 onwards
| Residential property | Non-residential or mixed-use properties | Rates of tax |
| Up to £125,000 | Up to £150,000 | Nil |
| Over £125,000 | Next portion from £150,001 to £5m | 1% |
| Over £5m | 2% |
SCOTLAND: LAND AND BUILDINGS TRANSACTION TAX (LBTT) RATES
Residential properties: from 16 December 2022
| Property or lease premium or transfer value | Only property rates | Additional property rates (note 6) |
| Up to £145,000 (note 5) | Nil | 6% |
| Next portion from £145,001 to £250,000 | 2% | 8% |
| Next portion from £250,001 to £325,000 | 5% | 11% |
| Next portion from £325,001 to £750,000 | 10% | 16% |
| Remaining amount over £750,000 | 12% | 18% |
Note 5: First-time Buyer Relief continues to apply in Scotland, increasing the nil-rate band from £145,000 to £175,000 for first-time buyers.
Note 6: Higher rates do not apply while replacing main residence, subject to meeting certain conditions or for purchases under £40,000. The 6% rate will apply to transactions entered into on or after 16 December 2022.
Non-residential properties or mixed-use properties
| Property or lease premium or transfer value | Rates of tax |
| Up to £150,000 | Nil |
| Next portion from £150,001 to £250,000 | 1% |
| Remaining amount over £250,000 | 5% |
Non-residential leasehold properties: Net present value (NPV) of rent
| NPV of rent payable | Rates of tax |
| Up to £150,000 | Nil |
| Next portion from £150,001 to £2m | 1% |
| Remaining amount over £2m
|
2% |
WALES: LAND TRANSACTION TAX (LTT) RATES
Residential properties: from 10 October 2022
| Property value | Only property rates | Additional property rates |
| Up to £180,000 | Nil | 4% |
| Next portion from £180,001 to £225,000 | Nil | 7.5% |
| Next portion from £225,001 to £250,000 | 6% | 7.5% |
| Next portion from £250,001 to £400,000 | 6% | 9% |
| Next portion from £400,001 to £750,000 | 7.5% | 11.5% |
| Next portion from £750,001 to £1.5m | 10.0% | 14.0% |
| Remaining amount over £1.5m | 12.0% | 16.0% |
Non-residential properties or mixed-use properties
| Property or lease premium or transfer value | Rates of tax |
| Up to £225,000 | Nil |
| Next portion from £225,001 to £250,000 | 1% |
| Next portion from £250,001 to £1m | 5% |
| Remaining amount over £1m | 6% |
Non-residential leasehold properties: LTT rates on NPV of rent
| NPV of rent payable | Rates of tax |
| Up to £225,000 | Nil |
| Next portion from £225,001 to £2m | 1% |
| Remaining amount over £2m | 2% |
| Stamp duty on shares and securities |
|
Stamp duty payable on transfer of shares and securities is 0.5%, subject to the value of the consideration being above £1,000.
|
October 2024
ACCA LEGAL NOTICE
This technical factsheet is for guidance purposes only. It is not a substitute for obtaining specific legal advice. While every care has been taken with the preparation of the technical factsheet, neither ACCA nor its employees accept any responsibility for any loss occasioned by reliance on the contents.
