Alan Pink looks at when the much more favourable commercial property rates of stamp duty land tax apply, even though residential property is being purchased.
At one time, stamp duty (the forerunner of stamp duty land tax (SDLT), which now applies (in England and Northern Ireland) to all property transactions in its place) was a relatively trivial matter, which did not form part of the tax planner’s usual area of concern.
Residential property rates
This is no longer the case, with the following rates applying in the ‘normal’ situation (say) from 1 October 2021:
|
Consideration |
SDLT Rate |
|
Up to £125,000 |
0; |
