Stamp Duty Land Tax – are you up to date?


Stamp Duty Land Tax (SDLT) – how long do you have to pay?


From 1 March 2019 the time period for filing and paying SDLT in England and Northern Ireland will change from 30 calendar days to 14 calendar days following the effective date of the real estate transaction. Interest and penalties may be applied if the deadline is not met.


All real estate transactions with an effective date, generally the date of completion, on or after 1 March 2019 will be caught.


Note that for transactions in Scotland or Wales the deadline remains at 30 calendar days.


Scotland: Land and Buildings Transaction Tax (LBTT)


Changes to the rates of LBTT have now been made which will apply to real estate transactions with an effective date on or after 25 January 2019.  These generally increase the rates for commercial property transactions and largely bring them into line with the rates of SDLT in England.


The new non-residential property rates are:


Purchase price New LBTT rate Old LBTT rate
Up to £150,000 0% 0%
From £150,000 to £250,000 1% 3% (note range was £150,000 to £350,000)
Above £250,000 5% 4.5% (above £350,000)


The rate of the supplement on second homes, buy to let properties and the purchase of homes by companies (Additional Dwelling Supplement) has also increased with effect from 25 January 2019, rising from 3% to 4%.  This supplement is payable in addition to the residential property LBTT rate.


The new rates will apply to real estate transactions, whether non- residential or residential, with an effective date on or after 25 January 2019 unless the contract for that transaction was entered into prior to 12 December 2018.


There are no changes to the rates for residential LBTT – see below.


Purchase price – residential property LBTT rate
Up to £145,000 0%
Above £145,000 to £250,000 2%
Above £250,000 to £325,000 5%
Above £325,000 to £750,000 10%
Over £750,000 12%


For more information, please contact Linda Fletcher