Stamp Duty 2015

The Budget 2014 announced a 15 per cent rate charge of stamp duty land tax on certain non-natural persons enveloping a residential property where the consideration given exceeds £2million. Where the interest/property with a consideration in excess of £2million is purchased in sole or joint names then a 15 per cent rate SDLT charge will apply to the following:
  • all such purchases by bodies corporate (largely companies);
  • all collective investment schemes; and
  • all partnerships where there are one or more members are one of the above.

 

 
Stamp Duty Land Tax
 
                               Threshold 2014-15
Rate                Residential                        Non-residential
 0%              £0 - 125,000                     £0 - 150,000
 1%         £125,001 - 250,000            £150,001 - 250,000
 3%         £250,001 - 500,000            £250,001 - 500,000
 4%       £500,001 - £1,000,000             Over £500,000
 5%     £1,000,001 - £2,000,000                     N/A
 
Stamp Duty and Stamp Duty Reserve Tax
Band                        2013-14               
Standard rate           0.5%               
Higher rate               1.5%