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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 (£)Rate (%)
0 - 250,0000
250,001 - 925,0005
925,001 - 1,500,00010
1,500,001 and above12

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 (£)Rate (%)
0 - 180,0000
180,001 - 250,0003.5
250,001 - 400,0005
400,001 - 750,0007.5
750,001 - 1,500,00010
1,500,000 and above12

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