Property tax changes

Industry News - 7th July 2021

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 propertyBand % Rates
£0 – £250,0000
£250,001 – £925,0005
£925,001 – £1,500,00010
£1,500,001 and over12

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

Residential propertyBand % Rate
Up to £180,0000
£180,001 – £250,0003.5
£250,001 – £400,0005
£400,001 – £750,0007.5
£750,001 – £1,500,00010
Over £1,500,00012

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

Our Blog

Recent news about us and our industry.