All done - New commercial property stamp duty rates live

17th March 2016

The way stamp duty on freehold commercial property and leasehold premium transactions is calculated has changed. From 17 March 2016 the rates will apply to the value of the property over each tax band, a move from `a slab to a slice approach’.

The new rates and tax bands are:-

0% for the portion of the transaction value up to £150,000; 2% between £150,001 and £250,000, and 5% above £250,000. 

Stamp duty rates for leasehold rent transactions also changed, with a new 2% stamp duty rate on leases with a net present value over £5 million.

There are transitional rules for purchasers who have exchanged but not completed before midnight tonight.

Both our online SDLT application and our desktop applications are up to date. 

SDLT online

Users of our online application need do nothing as the change is automatically done for you. 

SDLT desktop

Users of our desktop application who are using automatic updating will now be running version 2.4.12. 

If for some reason you are not using the auto update feature - please update your software to version 2.4.12.

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