23 March 2022 l SPRING STATEMENT 11 Property taxes Property transaction taxes have different rates and names depending on where in the UK a purchase takes place. England & N Ireland – Stamp Duty Land Tax (SDLT) on slices of value Residential property Commercial property 1 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% 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 properties bought by companies etc over £500,000 – 15% on total consideration subject to certain exemptions 1. 0% for freeport qualifying property in England only 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 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% Second residential properties: £40,000 or more – added to relevant SDLT rate 3% – added to LBTT and LTT rate(s) 4% Stamp Duty and SDRT: stocks and marketable securities 0.5%
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