Portner

  Chancellor Rachel Reeves announced changes to Stamp Duty Land Tax (SDLT) in the Autumn Budget that have increased the rates payable by buyers of additional properties and companies. Partner Daniel Broughton summarises the current SDLT rates and examines the new rates introduced with effect from 31 October 2024. Overview of SDLT SDLT is charged when you buy a residential freehold or leasehold property for a price that exceeds certain thresholds. The current thresholds are: £250,000 for residential property £425,000 for first-time buyers buying residential property worth up to £625,000. Transactions for a purchase price below these thresholds are exempt, and no SDLT is payable. The table below sets out the SDLT payable if you are buying a residential property in your personal name and it is the only residential property you own. Rates up to 31 March 2025 Property or lease premium or transfer value SDLT rate ...