Stamp Duty

When you buy shares, you usually pay a tax or duty of 0.5% on the transaction. If you buy shares electronically Stamp Duty Reserve Tax (SDRT) is payable. For shares purchased using a stock transfer form, you will pay Stamp Duty if the transaction is over £1,000.

Stamp Duty Land Tax

SDLT is payable on land and property transactions in England and Northern Ireland.

Property transactions in Scotland are subject to Land and Buildings Transaction Tax (LBTT).

Property transactions in Wales are subject to Land Transaction Tax (LTT).

Residential property

The rates apply to the portion of the total value which falls within each band.

Consideration (£)
Rate (%)

0 – 125,000

0

125,001 – 250,000

2

250,001 – 925,000

5

925,001 – 1,500,000

10

1,500,001 and above

12

These rates may be increased by 3% where further residential properties, costing over £40,000, are acquired.

First-time Buyer relief

From 1 July 2021 First-time buyers may be eligible for first-time buyer relief on purchases of residential property up to £500,000. The rates apply to the portion of the total value which falls within each band.

Consideration (£)
Rate (%)

0 – 300,000

0

300,001 – 500,000

5

for purchases over 500,000

normal rates apply

Non-residential property

Payable on consideration which falls in each band.

Consideration (£)
Rate (%)

0 – 150,000

0

150,001 – 250,000

2

Over 250,000

5

Land and Buildings Transaction Tax

Land and Buildings Transaction Tax (LBTT) is payable on land and property transactions in Scotland.

Residential property

Consideration (£)
Rate (%)

0 – 145,000

0

145,001 – 250,000

2

250,001 – 325,000

5

325,001 – 750,000

10

750,001 and above

12

The rates apply to the portion of the total value which falls within each band.

Residential rates may be increased by 4% where further residential properties, costing over £40,000, are acquired.

First-time Buyer relief raises the zero rate tax threshold for first-time buyers from £145,000 to £175,000.

Non-residential property

Consideration (£)
Rate (%)

0 – 150,000

0

150,001 – 250,000

2

Over 250,000

5

The rates apply to the portion of the total value which falls within each band.

Land Transaction Tax

Land Transaction Tax (LTT) is payable on land and property transactions in Wales.

Residential property

Consideration (£)
Rate (%)

0 – 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

1,500,000 and above

12

The rates apply to the portion of the total value which falls within each band.

Residential rates may be increased by 4% where further residential properties costing over £40,000 or over are acquired.

Higher residential tax rates

Higher residential rates may apply when you already own one or more residential properties.

Consideration (£)
Rate (%)

0 – 180,000

0

180,001 – 250,000

7.5

250,001 – 400,000

9

400,001 – 750,000

11.5

750,001 – 1,500,000

14

1,500,000 and above

16

The rates apply to the portion of the total value which falls within each band.

Non-residential property

Consideration (£)
Rate (%)

0 – 225,000

0

225,001 – 250,000

1

250,001 – 1,000,000

5

Over 1,000,000

6

The rates apply to the portion of the total value which falls within each band.

Get in touch

If you are in the Lancashire area and are looking for support and advice from a team of professional accountants and business advisers, contact Coates & Co.

Coates & Co

2 Fairhope Avenue

Bare

Morecambe

Lancashire LA4 6JZ


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Coates & Co is the trading name of Tony Coates & Co Limited, Registered in England, Registered Number: 6140774

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