STAMP DUTY LAND TAX EXEMPTIONS
Find out if your property is due a refund
Can you Qualify?
- There are no money or other payment exchanges during the property transfer. In these circumstances, you also don’t need to file an SDLT return.
- You are named as a property owner in someone’s will. This includes properties with outstanding debts, like mortgages.
- The property is transferred or split because of divorce or dissolution of a civil partnership
- The transaction is for a freehold property with a purchase price of less than £40,000
- When you buy an assigned lease of 7 years or more, as long as the premium is less than £40,000 and the annual rent is less than £1,000
- When you buy a new or assigned lease of fewer than 7 years, but the amount you pay is less than the residential or non-residential SDLT threshold
- When alternative property financial arrangements have been put in practice (e.g. to comply with Sharia law)
Stamp Duty Land Tax (SDLT) is charged at 15% on residential properties costing more than £500,000 bought by companies and corporate organisations.
In certain cases, the 15% charge may not apply. This applies to properties bought by a company acting as a trustee of a settlement. SDLT exemptions are also valid if a company buys a property to use it for one of the following reasons:
- When the property will be used for property rental business
- When the property is used for developers and traders
- If the property is made available to members of the public
- When financial institutions are acquiring property in the course of lending
- When the property is occupied by employees
- For farmhouses