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 | |
|---|---|---|
| 31.3.2023 | 31.3.2022 | |
| £0.5m - £1m | £3,800 | £3,700 |
| £1m - £2m | 7,700 | 7,500 |
| £2m – £5m | 26,050 | 25,300 |
| £5m – £10m | 60,900 | 59,100 |
| £10m – £20m | 122,250 | 118,600 |
| Over £20m | 244,750 | 237,400 |
Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT)
The Scottish and Welsh authorities have not yet announced the rates of LBTT and LTT for 2022/23.
| 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% | ||||
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% | ||||