Property Taxes
Annual Tax on Enveloped Dwellings (ATED)
ATED applies to ‘high value’ residential properties owned via a corporate structure, unless the property is used for a qualifying purpose. The tax applies to properties valued at more than £500,000.
| PROPERTY VALUE | ANNUAL CHARGE TO | |
|---|---|---|
| 31.3.2024 | 31.3.2023 | |
| £0.5m - £1m | £4,150 | £3,800 |
| £1m - £2m | £8,450 | £7,700 |
| £2m - £5m | £28,650 | £26,050 |
| £5m - £10m | £67,050 | £60,900 |
| £10m - £20m | £134,550 | £122,250 |
| Over £20m | £269,450 | £244,750 |
Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT)
| RESIDENTIAL PROPERTY (FIRST PROPERTY ONLY) | |||||
|---|---|---|---|---|---|
| SDLT - ENGLAND & NI £000 | RATE | LBTT - SCOTLAND £000 | RATE | LTT - WALES £000 | RATE |
| Up to 250 | Nil | Up to 145 | Nil | Up to 225 | Nil |
| 250 - 925 | 5% | 145 - 250 | 2% | 225 - 400 | 6% |
| 925 - 1,500 | 10% | 250 - 325 | 5% | 400 - 750 | 7.5% |
| Over 1,500 | 12% | 325 - 750 | 10% | 750 - 1,500 | 10% |
| Over 750 | 12% | Over 1,500 | 12% | ||
A supplement applies for all three taxes where an additional residential property interest is purchased for more than £40,000 (unless replacing a main residence). It is also payable by all corporate purchasers. The rate is 3% (SDLT) and 6% (LBTT) of the total purchase price. LTT has specific higher rates in bandings: up to 180k: 4%, 180 - 250k: 7.5%, 250 - 400k: 9%, 400 - 750k: 11.5%, 750 - 1,500k: 14%, >1,500k: 16%.
For SDLT:
– First-time buyers purchasing a property of up to £625,000 pay a nil rate on the first £425,000 of the purchase price.
– A 2% supplement applies where the property is bought by certain non-UK residents.
– A rate of 15% may apply to the total purchase price, where the property is valued above £500,000 and purchased by a ‘non-natural person’ (e.g. a company).
For LBTT, first-time buyer relief increases the nil rate band to £175,000.
| NON-RESIDENTIAL OR MIXED USE PROPERTY | |||||
|---|---|---|---|---|---|
| SDLT - ENGLAND & NI £000 | RATE | LBTT - SCOTLAND £000 | RATE | LTT - WALES £000 | RATE |
| Up to 150 | Nil | Up to 150 | Nil | Up to 225 | Nil |
| 150 - 250 | 2% | 150- 250 | 1% | 225 - 250 | 1% |
| Over 250 | 5% | Over 250 | 5% | 250 - 1,000 | 5% |
| Over 1,000 | 6% | ||||
