Property tax changes
Tuesday, 6th 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 property (£) | Rate (%) |
|---|---|
| 0 - 250,000 | 0 |
| 250,001 - 925,000 | 5 |
| 925,001 - 1,500,000 | 10 |
| 1,500,001 and above | 12 |
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 - 180,000 | 0 |
| 180,001 - 250,000 | 3.5 |
| 250,001 - 400,000 | 5 |
| 400,001 - 750,000 | 7.5 |
| 750,001 - 1,500,000 | 10 |
| 1,500,000 and above | 12 |
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
