PROPERTY PRACTICE
CHAPTER 10 PROPERTY TAXATION
SDLT and LTT Update – 2024/25
Stamp Duty Land Tax
First time buyers’ relief
| Consideration | Rate of tax until March 2025 | Rate of tax from 1 April 2025 |
| The first £300,000 | 0% | 0% |
| £300,001 – £425,000 | 0% | 5% |
| £425,001 – £500,000 | 5% | 5% |
| £500,001 – £625,000 | 5% | 5% |
Only or main residence
| Consideration | Rate of tax until March 2025 | Rate of tax from 1 April 2025 |
| The first £125,000 | 0% | 0% |
| Over £125,000 to £250,000 | 0% | 2% |
| Over £250,000 to £925,000 | 5% | 5% |
| Over £925,000 to £1,500,000 | 10% | 10% |
| The remainder | 12% | 12% |
Any additional property, eg holiday home/buy-to-let
| Consideration | Rate of tax until March 2025 | Rate of tax from 1 April 2025 |
| The first £125,000 | 5% | 5% |
| Over £125,000 to £250,000 | 5% | 7% |
| Over £250,000 to £925,000 | 10% | 10% |
| Over £925,000 to £1,500,000 | 15% | 15% |
| The remainder | 17% | 17% |
Non-residential/mixed use
| Consideration | Rate of Tax |
| The first £150,000 | 0% |
| Over £150,000 to £250,000 | 2% |
| The remainder | 5% |
Land Transaction Tax
Only or main residence
| Consideration | Rate of tax |
| The first £225,000 | 0% |
| Over £225,000 to £400,000 | 6% |
| Over £400,000 to £750,000 | 7.5% |
| Over £750,000 to £1,500,00 | 10% |
| The remainder | 12% |
Any additional property, eg holiday home/buy-to-let
| Consideration | Rate of tax |
| The first £180,000 | 5% |
| Over £180,000 to £250,000 | 8.5% |
| Over £250,000 to £400,000 | 10% |
| Over £400,000 to £750,000 | 12.5% |
| Over £750,000 to £1,500,000 | 15% |
| The remainder | 17% |
Non-residential/mixed use
| Consideration | Rate of tax |
| The first £225,000 | 0% |
| Over £225,000 to £250,000 | 1% |
| Over £250,000 to £1million | 5% |
| The remainder | 6% |