C1C2C4C5C6C7Part 4Stamp duty land tax

Annotations:
Modifications etc. (not altering text)
C4

Pt. 4 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 194(8)-(12)

C5

Pt. 4 applied (17.7.2014) by Finance Act 2014 (c. 26), ss. 223(8)(9)(d)

C6

Pt. 4 modified (temp.) (22.7.2020) by Stamp Duty Land Tax (Temporary Relief) Act 2020 (c. 15), s. 1 (as amended (10.6.2021) by 2021 c. 26, s. 87(2))

C7

Pt. 4 modified (temp.) (10.6.2021) by 2020 c. 15, s. 1A (as inserted by Finance Act 2021 (c. 26), s. 87(3))

Amount of tax chargeable

55I1Amount of tax chargeable: general

1

The amount of tax chargeable in respect of a chargeable transaction F5to which this section applies is F9determined in accordance with subsections (1B) F17and (1C).

F41A

This section applies to any chargeable transaction other than a transaction to which paragraph 3 of Schedule 4A or step 4 of section 74(1A) (higher rate for certain transactions) applies.

C8C9F71B

If F19... the transaction is not one of a number of linked transactions, the amount of tax chargeable is determined as follows—

  • Step 1 Apply the rates specified in the second column of F20the appropriate table below to the parts of the relevant consideration specified in the first column of F21the appropriate table.

    F22“The “appropriate table” is—

    (a) Table A, if the relevant land consists entirely of residential property, and

    (b) Table B, if the relevant land consists of or includes land that is not residential property.

  • Step 2 Add together the amounts calculated at Step 1 (if there are two or more such amounts).

    TABLE A: RESIDENTIAL

    Part of relevant consideration

    Rate

    So much as does not exceed £125,000

    0%

    So much as exceeds £125,000 but does not exceed £250,000

    2%

    So much as exceeds £250,000 but does not exceed £925,000

    5%

    So much as exceeds £925,000 but does not exceed £1,500,000

    10%

    The remainder (if any)

    12%

    F11Table B: Non-residential or mixed

    Relevant consideration

    Percentage

    So much as does not exceed £150,000

    0%

    So much as exceeds £150,000 but does not exceed £250,000

    2%

    The remainder (if any)

    5%

1C

If F23... the transaction is one of a number of linked transactions, the amount of tax chargeable in respect of the particular transaction under consideration is determined as follows—

  • Step 1 Apply the rates specified in the second column of F24the appropriate table in subsection (1B) to the parts of the relevant consideration specified in the first column of F25the appropriate table.

    F26“The “appropriate table” is—

    (a) Table A, if the relevant land consists entirely of residential property, and

    (b) Table B, if the relevant land consists of or includes land that is not residential property.

  • Step 2 Add together the amounts calculated at Step 1 (if there are two or more such amounts).

  • Step 3 Multiply the amount given by Step 1 or Step 2, as the case may be, by—

    where—

    C is the chargeable consideration for the transaction, and

    R is the relevant consideration.

F132

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

For the purposes of F18subsection (1B) —

a

the relevant land is the land an interest in which is the main subject-matter of the transaction, and

b

the relevant consideration is the chargeable consideration for the transaction

F27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

C34

F8For the purposes ofF14subsection (1C) —

a

the relevant land is any land an interest in which is the main subject-matter of any of F28the linked transactions, and

b

the relevant consideration is the total of the chargeable consideration for all those transactions.

F124A

Schedule 4ZA (higher rates for additional dwellings and dwellings purchased by companies) modifies this section as it applies for the purpose of determining the amount of tax chargeable in respect of certain transactions involving major interests in dwellings.

5

This section has effect subject to—

  • section F1574(1B) (F1exercise of collective rights by tenants of flats), F2...

  • F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(which F3provides for the F16amount of tax to be determined by reference to a fraction of the relevant consideration).

6

In the case of a transaction for which the whole or part of the chargeable consideration is rent this section has effect subject to section 56 and Schedule 5 (amount of tax chargeable: rent).

F107

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

55AF6Amount of tax chargeable: higher rate for certain transactions

Schedule 4A provides for the calculation of the tax chargeable in respect of certain transactions involving higher threshold interests in dwellings.

56I2Amount of tax chargeable: rent

Schedule 5 provides for the calculation of the tax chargeable where the chargeable consideration for a transaction consists of or includes rent.