As predicted the Stamp Duty Land Tax (“SDLT”) holiday has been extended to 30 June 2021. This means that purchasers have an additional three months to complete on their purchases. The Government have also increased the nil rate band from 1 July 2021 to 30 September 20201 to £250,000 before it returns to £125,000 on 1 October 2021.
Please find a summary of the rates for 2021 detailed below:
SDLT holiday residential rates to 30 June 2021
| Band | Rate |
| Up to £500,000 | 0% |
| The next £425,000 (the portion from £500,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| Above £1.5 million | 12% |
SDLT residential rates from 1 July 2021 to 30 September 2021
| Band | Rate |
| Up to £250,000 | 0% |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| Above £1.5 million | 12% |
SDLT residential rates from 1 October 2021
| Band | Rate | |
|
0% | |
| The next £125,000 (the portion from £125,001 to £250,000) | 2% | |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% | |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% | |
| Above £1.5 million | 12% |
The rates above can be combined with the residential reliefs such as Multiple Dwellings Relief. If you would like to discuss your upcoming purchase please contact our expert below.
