On Thursday 17th March 2016, new SDLT (Stamp Duty Land Tax) rates were introduced for commercial properties.
Commercial Stamp Duty Rates
|Property or lease premium or transfer value||SDLT rate|
|Up to £150,000||Zero|
|The next £100,000 (the portion from £150,001 to £250,000)||2%|
|The remaining amount (the portion above £250,000)||5%|
If you buy a commercial property for £280,000, the SDLT you owe is calculated as follows:
0% on the first £150,000 = £0
2% on the next £100,000 = £2,000
5% on the final £30,000 = £1,500
Total SDLT = £3,500
The Stamp Duty rates for residential properties are different.