Stamp Duty 15 properties or more?

by Readers Question

10:23 AM, 27th February 2019
About 2 years ago

Stamp Duty 15 properties or more?

Make Text Bigger
Stamp Duty 15 properties or more?

If you have 15 or more properties do you pay the normal rate of Stamp Duty or is it the higher rate with the 3% surcharge?

When the changes regarding Stamp Duty were first being discuss it was mentioned that if you had 15 properties or more you would only pay the basic rate of Stamp Duty?

Many Thanks

Maria

Editors Note: In the original consultation after the Stamp Duty surcharge for second homes was announced in November 2015, there was an indication that investors buying more than 15 units, or who had a portfolio of more than 15 units, could be exempted from the charge, but the Chancellor decided against this.

HMRC >> https://www.gov.uk/stamp-duty-land-tax/nonresidential-and-mixed-use-rates

Non-residential and mixed use land and property rates

You pay SDLT on increasing portions of the property price (or ‘consideration’) when you pay £150,000 or more for non-residential or mixed-use land or property.

You must still send an SDLT return for most transactions under £150,000.

Non-residential property includes:

  • commercial property, for example shops or offices
  • agricultural land
  • forests
  • any other land or property which is not used as a residence
  • 6 or more residential properties bought in a single transaction

A ‘mixed use’ property is one that has both residential and non-residential elements, for example a flat connected to a shop, doctor’s surgery or office.

Use the SDLT calculator to work out how much tax you’ll pay.


Share this article

Twitter Facebook LinkedIn

Comments

Neil Patterson

10:26 AM, 27th February 2019
About 2 years ago

Hi Maria,

Please see my editors notes your article and I have also included details of linked transactions for 6 or more properties.

Harry Chunk

10:07 AM, 28th February 2019
About 2 years ago

The HMRC website says three years for disposal of previous residential property.


Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

OR

BECOME A MEMBER

Protect Your Wealth In Property In 2021

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More