FA 2025 review: SDLT increases

Sections 50 and 51 increase the additional rates of stamp duty land tax for the acquisition of additional dwellings (or first and subsequent dwellings by companies and other non-natural persons) for transactions with an effective date on or after 31 October 2024. The rates are increased from 3% to 5%. Section 50 sets out the rates for transactions between 31 October 2024 and 31 March 2025 while section 51 sets out the rates that apply for transactions on and after 1 April 2025.

Section 52 provides for transitional rules to apply where a transaction has been substantially performed before the increase in the additional rates of stamp duty land tax (from 3% to 5%) under sections 50 and 51 came into effect ensuring that no additional tax is charged where that liability would arise only because of the change in the rates of tax between substantial performance and completion. Section...