Property Taxes
Annual Tax on Enveloped Dwellings (ATED)
From 1 April 2013 the ATED applies to ‘high value’ residential properties owned via a corporate structure, unless the property is used for a qualifying purpose. From 1 April 2015 the tax applies to properties valued at £1m or more (previously £2m or more).
| Property value | Annual charge to | |
|---|---|---|
| 31.3.2016 | 31.3.2015 | |
| £1m – £2m | £7,000 | N/A |
| £2m – £5m | 23,350 | £15,400 |
| £5m – £10m | 54,450 | 35,900 |
| £10m – £20m | 109,050 | 71,850 |
| £20m + | 218,200 | 143,750 |
Stamp Duty Land Tax (SDLT)
| Residential property: Purchase price |
SDLT rate on the band* |
|---|---|
| Up to £125,000 | Nil |
| £125,001 – £250,000 | 2% |
| £250,001 – £925,000 | 5% |
| £925,001 – £1.5m | 10% |
| £1.5m + | 12% |
*A rate of 15% applies to the total purchase price where the property is valued above £500,000 and purchased by a ‘non-natural person’ (e.g. a company).
| Commercial property Purchase price |
SDLT rate on total price |
|---|---|
| Up to £150,000 | Nil |
| £150,001 – £250,000 | 1% |
| £250,001 – £500,000 | 3% |
| £500,000 + | 4% |
Land and Buildings Transaction Tax (LBTT)
From 1 April 2015, SDLT is replaced in Scotland by LBTT. Like SDLT, it is payable by the purchaser.
| Residential property Purchase price |
Rate on band |
|---|---|
| Up to £145,000 | Nil |
| £145,001 - £250,000 | 2% |
| £250,001 - £325,000 | 5% |
| £325,001 - £750,000 | 10% |
| £750,000 + | 12% |
| Commercial property Purchase price |
Rate on band |
|---|---|
| Up to £150,000 | Nil |
| £150,001 - £350,000 | 3% |
| £350,000 + | 4.5% |