Property taxes
Annual Tax on Enveloped Dwellings (ATED)
ATED applies to ‘high value’ residential properties owned via a corporate structure, unless the property is used for a qualifying purpose. The tax applies to properties valued at more than £500,000.
| Property value | Annual charge to | |
|---|---|---|
| 31.3.2022 | 31.3.2021 | |
| £0.5m - £1m | £3,700 | £3,700 |
| £1m - £2m | 7,500 | 7,500 |
| £2m – £5m | 25,300 | 25,200 |
| £5m – £10m | 59,100 | 58,850 |
| £10m – £20m | 118,600 | 118,050 |
| Over £20m | 237,400 | 236,250 |
Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT) from 1 April 2021
| Residential property (1st property only) | |||||
|---|---|---|---|---|---|
| SDLT - England & NI £000 |
Rate | LBTT - Scotland £000 |
Rate | LTT - Wales £000 |
Rate |
| Up to 125* | Nil | Up to 145 | Nil | Up to 180** | Nil |
| 125 - 250 | 2% | 145 – 250 | 2% | 180 – 250 | 3.5% |
| 250 – 925 | 5% | 250– 325 | 5% | 250 – 400 | 5.0% |
| 925 – 1,500 | 10% | 325 – 750 | 10% | 400 – 750 | 7.5% |
| Over 1,500 | 12% | Over 750 | 12% | 750 – 1,500 | 10.0% |
| Over 1,500 | 12.0% | ||||
*Nil rate band up to 30.6.21 is £500,000, between 1.7.21-30.9.21 is £250,000.
**Nil rate band up to 30.6.21 is £250,000.
A supplement applies for all three taxes where an additional residential property is purchased for more than £40,000 (unless replacing a main residence). It is also payable by all corporate purchasers. The rate is 3% (LBTT and LTT: 4%) of the total purchase price.
For SDLT:
– First-time buyers purchasing a property of up to £500,000 pay a nil rate on the first £300,000 of the purchase price.
- A 2% supplement applies where the property is bought by a non-UK resident.
– A rate of 15% may apply to the total purchase price, where the property is valued above £500,000 and purchased by a ‘non-natural person’ (e.g. a company).
For LBTT, first-time buyer relief increases the nil rate band to £175,000.
| Non-residential or mixed use property | |||||
|---|---|---|---|---|---|
| SDLT - England & NI £000 |
Rate | LBTT - Scotland £000 |
Rate | LTT - Wales £000 |
Rate |
| Up to 150 | Nil | Up to 150 | Nil | Up to 225 | Nil |
| 150 – 250 | 2% | 150 – 250 | 1% | 225 – 250 | 1% |
| Over 250 | 5% | Over 250 | 5% | 250 – 1,000 | 5% |
| Over 1,000 | 6% | ||||