SDLT Budget update

Hillier Hopkins LLP

Chartered Accountants & Tax Advisers

Call +44(0)330 024 3200 and discover how we can help you.

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
Up to £125,000
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 Natasha Heron on 01923 634 460 or natasha.heron@hhllp.co.uk

Do you need extra information?
Natasha Heron

Natasha is a member of the ICAEW as a qualified auditor and the Chartered Institute of Taxation, specialising in indirect taxes. Natasha has developed a specialism as an adviser on the Stamp Duty Land Tax implications of property transactions.

Contact Natasha at Natasha.Heron@hhllp.co.uk or on 01923 634460