Property tax changes
Luke Mudd9th 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 | Band % Rates |
| £0 – £250,000 | 0 |
| £250,001 – £925,000 | 5 |
| £925,001 – £1,500,000 | 10 |
| £1,500,001 and over | 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 | Band % Rate |
| Up to £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 |
| Over £1,500,000 | 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
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