Tax Rates 2023/24

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
	31.3.2024	31.3.2023
£0.5m - £1m	£4,150	£3,800
£1m - £2m	8,450	7,700
£2m – £5m	28,650	26,050
£5m – £10m	67,050	60,900
£10m – £20m	134,550	122,250
Over £20m	269,450	244,750

Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT)

Residential property (1st property only)
SDLT - England & NI £000	Rate	LBTT - Scotland £000	Rate	LTT - Wales £000	Rate
Up to 250	Nil	Up to 145	Nil	Up to 225	Nil
250 – 925	5%	145 – 250	2%	225 – 400	6.0%
925 – 1,500	10%	250 – 325	5%	400 – 750	7.5%
Over 1,500	12%	325 – 750	10%	750 – 1,500	10.0%
		Over 750	12%	Over 1,500	12.0%

A supplement applies for all three taxes where an additional residential property interest is purchased for more than £40,000 (unless replacing a main residence). It is also payable by all corporate purchasers. The rate is 3% (SDLT), and 6% (LBTT) of the total purchase price. LTT has specific higher rates in bandings: up to 180k: 4%, 180 - 250k: 7.5%, 250 - 400k: 9%, 400 - 750k: 11.5%, 750-1,500k: 14%, >1,500k: 16%.

For SDLT:

– First-time buyers purchasing a property of up to £625,000 pay a nil rate on the first £425,000 of the purchase price.

– A 2% supplement applies where the property is bought by certain non-UK residents.

– 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%