Stamp Duty (LBTT)
Land and Buildings Transaction Tax (LBTT) is a tax that anyone buying a property or land costing more than a set amount has to pay. The rate you'll pay the tax at varies based on the price of the property and the type of use, for example residential or commercial.
LBTT rates and bands for residential transactions as of 1 April 2021:
| Purchase price | LBTT rate |
|---|---|
| Up to £145,000 | 0% |
| £145,001 to £250,000 | 2% |
| £250,001 to £325,000 | 5% |
| £325,001 to £750,000 | 10% |
| Over £750,000 | 12% |
For chargeable consideration above the nil rate band, calculate the amount due within each rate band then add these together to reach the LBTT due.
Working with you
M & J Ballantyne Ltd was established in 1937 and have an enviable reputation for the highest quality of design and craftsmanship.
