STAMP DUTIES AND PROPERTY TRANSACTION TAXES Stamp Duty and SDRT: Stocks and marketable securities 0.5% Additional residential and all corporate residential properties £40,000 or more – add 3% to SDLT rates and 4% to LBTT and LTT rates England & N Ireland – Stamp Duty Land Tax (SDLT) on slices of value Residential property % Commercial property* % Up to £125,000 0 Up to £150,000 0 £125,001–£250,000 2 £150,001–£250,000 2 £250,001–£925,000 5 Over £250,000 5 £925,001–£1,500,000 10 Over £1,500,000 12 *0% for freeport qualifying property in England only First time buyers: 0% on first £300,000 for properties up to £500,000 Non-resident purchasers: 2% surcharge on properties £40,000 or more Residential property bought by companies etc. over £500,000: 15% of total consideration, subject to certain exemptions Scotland – Land and Buildings Transaction Tax (LBTT) on slices of value Residential property % Commercial property % Up to £145,000 0 Up to £150,000 0 £145,001–£250,000 2 £150,001–£250,000 1 £250,001–£325,000 5 Over £250,000 5 £325,001–£750,000 10 Over £750,000 12 First time buyers: 0% on the first £175,000 Wales – Land Transaction Tax (LTT) on slices of value Residential property % Commercial property % Up to £180,000 0 Up to £225,000 0 £180,001–£250,000 3.5 £225,001–£250,000 1 £250,001–£400,000 5 £250,001–£1,000,000 5 £400,001–£750,000 7.5 Over £1,000,000 6 £750,001–£1,500,000 10 Over £1,500,000 12 INHERITANCE TAX 22/23 21/22 Nil-rate band* £325,000 £325,000 Residence nil-rate band*† £175,000 £175,000 Rate of tax on excess 40% 40% Rate if at least 10% of net estate left to charity 36% 36% Lifetime transfers to and from certain trusts 20% 20% Overseas domiciled spouse/civil partner exemption £325,000 £325,000 100% relief: businesses, unlisted/AIM companies, certain farmland/buildings 50% relief: certain other business assets e.g. farmland let before 1/9/95 Annual exempt gifts of: £3,000 per donor £250 per donee * Up to 100% of the unused proportion of a deceased spouse’s/civil partner’s nilrate band and/or residence nil-rate band can be claimed on the survivor’s death †Estates over £2,000,000: the value of the residence nil-rate band is reduced by 50% of the excess over £2,000,000
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