SDLT Flashcards
(3 cards)
1
Q
What are the SDLT rates for Net Present Value on grant of lease?
A
£0-£150,000 = Zero
Portion from £150,001 - £5 million = 1%
Portion above £5 million = 2%
2
Q
What are the SDLT rates on residential freehold?
A
1) First time buyers can claim relief from SDLT if they intend to occupy the property as main residence and purchase price is no more than £625,000
- They pay nothing below £425,000 and 5% on portion between £425,001 to £625,000
2) For residential, non-first-time buyers:
- So much as does not exceed £250,000 - 0%
- So much as exceeds £250,000 but does not exceed £925,000 - 5%
- So much as exceeds £925,000 but does not exceed £1,500,000 - 10%
- The remainder - 12%
3) If a sale involves valuable chattels, it may be possible to apportion some of the purchase price to the chattels to reduce payable SDLT
- Apportionment must be for a fair value or could be a fraud on HMRC
3
Q
What are the SDLT rates for non-residential freehold?
A
For non-residential or mixed-use freehold:
- So much as does not exceed £150,000 - 0%
- So much as exceeds £150,000 but does not exceed £250,000 - 2%
- So much as exceeds £250,000 - 5%
