Stamp Duty Land Tax

Budget reforms to Stamp Duty Land Tax are getting a mixed reception from the commercial property market. The changes are being described by some as an “out of the blue raid on commercial property”.
Whilst previously SDLT rates applied to the whole transaction value of a commercial property, from 17 March 2016 the rates will be banded and apply as follows:

• 0% up to £150,000
• 2% between £150,001 and £250,000; and
• 5% above £250,000.

The Treasury has said that 90% of transactions will attract the same or less SDLT – for example those buying commercial property worth up to £1.05 million will pay less.
Other changes include a new 2% stamp duty rate on leases with a net present value over £5 million.


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