Tools to help your business. Stamp duty & land taxes Stamp DutyWhen you buy shares, you usually pay a tax or duty of 0.5% on the transaction. If you buy shares electronically Stamp Duty Reserve Tax (SDRT) is payable. For shares purchased using a stock transfer form, you will pay Stamp Duty if the transaction is over £1,000.Stamp Duty Land TaxSDLT is payable on land and property transactions in England and Northern Ireland.Property transactions in Scotland are subject to Land and Buildings Transaction Tax (LBTT).Property transactions in Wales are subject to Land Transaction Tax (LTT).Residential propertyThe rates apply to the portion of the total value which falls within each band. Consideration (£) Rate (%) 0 - 250,000 0 250,001 - 925,000 5 925,001 - 1,500,000 10 1,500,001 and above 12 These rates may be increased by 3% where further residential properties, costing over £40,000, are acquired prior to 30 October 2024 and by 5% after that date.First-time Buyer reliefFirst-time buyers may be eligible for first-time buyer relief on purchases of residential property up to £625,000. The rates apply to the portion of the total value which falls within each band. Consideration (£) Rate (%) 0 - 425,000 0 425,001 - 625,000 5 for purchases over 625,000 normal rates apply Non-residential propertyPayable on consideration which falls in each band. Consideration (£) Rate (%) 0 - 150,000 0 150,001 - 250,000 2 Over 250,000 5 Land and Buildings Transaction TaxLand and Buildings Transaction Tax (LBTT) is payable on land and property transactions in Scotland.Residential property Consideration (£) Rate (%) 0 - 145,000 0 145,001 - 250,000 2 250,001 - 325,000 5 325,001 - 750,000 10 750,001 and above 12 The rates apply to the portion of the total value which falls within each band.Residential rates may be increased by 6% where further residential properties, costing over £40,000, are acquired prior to 5 December 2024 and by 8% after that date. Where the effective date of a land transaction is on or after 5 December 2024 and the contract for the land transaction was entered into on or before 4 December 2024, the tax rate of 6% will apply.First-time Buyer relief raises the zero rate tax threshold for first-time buyers from £145,000 to £175,000.Non-residential property Consideration (£) Rate (%) 0 - 150,000 0 150,001 - 250,000 1 Over 250,000 5 The rates apply to the portion of the total value which falls within each band.Land Transaction TaxLand Transaction Tax (LTT) is payable on land and property transactions in Wales.Residential property Consideration (£) Rate (%) 0 - 225,000 0 225,001 - 400,000 6 400,001 - 750,000 7.5 750,001 - 1,500,000 10 1,500,000 and above 12 The rates apply to the portion of the total value which falls within each band.Residential rates may be increased where further residential properties costing over £40,000 or over are acquired.Higher residential tax ratesHigher residential rates may apply when you already own one or more residential properties. The following rates apply to acquisitions on or after 11 December 2024. For contracts exchanged prior to that date the percentages are reduced by 1%. Consideration (£) Rate (%) 0 - 180,000 5 180,001 - 250,000 8.5 250,001 - 400,000 10 400,001 - 750,000 12.5 750,001 - 1,500,000 15 1,500,000 and above 17 The rates apply to the portion of the total value which falls within each band.Non-residential property Consideration (£) Rate (%) 0 - 225,000 0 225,001 - 250,000 1 250,001 - 1,000,000 5 Over 1,000,000 6 The rates apply to the portion of the total value which falls within each band. Can you claim R&D Tax relief? At DMA, we have a track record of helping clients with all R & D tax issues. We can advise you precisely on what does/does not qualify for tax relief under R&D activities and under which R&D scheme. Life’s too short to be searching for stuff… Fortunately, DMA’s App means that you don’t have to. Get ALL your financial and tax information in one place and at all times – plus a great financial news feed! Register With Us Get better and faster communication and a whole range of free tools. Track your mileage, upload bills directly – and get technology that’s as on-the-move as you are. Demystifying Digital Tax We’ll show you how to use Making Tax Digital to your commercial advantage by streamlining your business processes. Making Tax Digital can be an opportunity to save time and money!
