SDLT on residential property

20th August, 2018

Historically, the calculation of SDLT on the acquisition of residential property in England, Wales and Northern Ireland was a relatively simple exercise. However, following the introduction of a 3% additional rate for purchases of additional residential property and the differential rates dependent on whether the transaction is classed as residential or non residential in nature, the application of SDLT is fast becoming an area for which professional advice is recommended.

Properties located in Scotland are subject to land and buildings transaction tax (LBTT) which is closely aligned to SDLT but a distinct tax enforced by Revenue Scotland. Land transaction tax (LTT) is due to come into force from 1 April 2018 for properties in Wales

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