Property tax changes

Blog Posts

Luke Mudd | 9th July 2021

Property tax changes

From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property.

SDLT is payable by the purchaser in a land transaction occurring in England and Northern Ireland. The following rates and thresholds apply for SDLT from 1 July 2021 to 30 September 2021:

Residential property

Band % Rates

£0 - £250,000

0

£250,001 - £925,000

5

£925,001 - £1,500,000

10

£1,500,001 and over

12

LTT is payable by the purchaser in a land transaction occurring in Wales. From 1 July 2021 the rates for residential property are:

Residential property

Band % Rate

Up to £180,000

0

£180,001 - £250,000

3.5

£250,001 - £400,000

5

£400,001 - £750,000

7.5

£750,001 - £1,500,000

10

Over £1,500,000

12

There are no changes to the rates and bands for Land and Property Transaction Tax which apply in Scotland.

Internet links: SDLT rates LTT rates