SDLT rates return to pre-covid levels

HMRC has updated its guidance Stamp duty land tax rates from 1 December 2003 to 30 September 2021 following the end of the temporary extended nil-rate band thresholds on 30 September 2021.

SDLT rates and thresholds for residential properties reverted to their pre-pandemic levels for land transactions from 1 October 2021 onwards. Temporary relaxations had applied for the ‘initial temporary relief period’ (1 April to 30 June 2021) and the ‘further temporary relief period’ (1 July to 30 September 2021).

From 1 October 2021, SDLT residential property rates are as follows (on band of consideration):

• £0–£125,000: 0%;
• £125,001–£250,000: 2%;
• £250,001–£925,000: 5%;
• £925,001–£1,500,000: 10%; and
• over £1,500,000: 12%.

The 0% band for new residential leases also reverts to £125,000 from 1 October 2021.