Stamp Duty Land Tax is payable by the purchaser in a land transaction which includes a simple conveyance of land such as buying a house but also creating a lease or assigning a lease.
Who pays the tax?
El comprador debe pagar el SDLT en las transacciones de terrenos realizadas en Inglaterra e Irlanda del Norte. En Escocia, se aplica el Impuesto sobre Transacciones de Terrenos y Edificios (LBTT), mientras que en Gales se aplica el Impuesto sobre Transacciones de Terrenos (LTT).
¿Qué es una transacción de tierras?
Una transacción generará responsabilidad si implica la adquisición de un derecho sobre un terreno. Esto incluye una simple transmisión de terrenos, como la compra de una vivienda o la formalización o cesión de un contrato de arrendamiento.
¿Sobre qué se cobra el impuesto?
Se grava la contraprestación. Esta suele ser el efectivo que se transfiere en la venta. Sin embargo, la definición es muy amplia y pretende abarcar todo tipo de situaciones en las que el valor podría darse en una cantidad distinta a la del efectivo: por ejemplo, si el comprador se compromete a realizar determinadas obras en la propiedad.
¿Cuándo se paga el impuesto?
El impuesto debe pagarse cuando el contrato se ha cumplido sustancialmente. En los casos en que el comprador toma posesión de la propiedad al finalizar la obra, esa será la fecha. Sin embargo, si el comprador toma posesión efectiva antes de la finalización (lo que se conoce como "reposo contractual"), se considerará que esto genera el impuesto.
¿Cuánto impuesto se debe pagar sobre la propiedad residencial?
Cada tasa SDLT se paga sobre la parte del valor de la propiedad que cae dentro de cada banda.
SDLT rates
The current rates are as follows:
| Residential property Purchase price of property |
Band % Rates |
|---|---|
| £0 – £125,000 | 0 |
| £125,001 – £250,000 | 2 |
| £250,001 – £925,000 | 5 |
| £925,001 – £1,500,000 | 10 |
| £1,500,001 and above | 12 |
First-time buyer relief
First-time buyers may be eligible for first-time buyer relief on purchases of residential property up to £500,000. The rates apply to the portion of the total value which falls within each band.
Each SDLT rate is payable on the portion of the property value which falls within each band. The rates and thresholds are:
| Property value | Band % Rates |
|---|---|
| £0 – £300,000 | 0 |
| £300,001 – £500,000 | 5 |
No relief can be claimed if the property is over £500,000 and the normal SDLT rates will apply to the full amount of consideration.
Propiedades residenciales adicionales
Se aplican tasas más altas de SDLT en las compras de propiedades residenciales adicionales (superiores a £40 000).
El principal objetivo de las tasas más altas son las compras de propiedades para alquilar o segundas residencias. Sin embargo, algunos compradores tendrán que pagar el cargo adicional, aunque la propiedad adquirida no sea para alquilar ni segunda residencia. La regla de los 36 meses que se describe a continuación ayuda a eximir algunas transacciones de las tasas adicionales (o a permitir un reembolso).
Las tasas más altas son un 5% superiores a las tasas SDLT que se muestran en la tabla anterior. Estas tasas más altas podrían aplicarse si, al final de la transacción de compra, la persona posee dos o más propiedades residenciales.
Some further detail:
- Purchasers will have 36 months to claim a refund of the higher rates if they buy a new main residence before disposing of their previous main residence
- Purchasers will also have 36 months between selling a main residence and replacing it with another main residence without having to pay the higher rates
- A small share in a property which has been inherited within the 36 months prior to a transaction will not be considered as an additional property when applying the higher rates
- No habrá exención de las tasas más altas para los inversores importantes.
SDLT surcharge on non-UK residents
There is a 2% SDLT surcharge on non-UK residents (and certain UK resident companies that are controlled by non-UK residents) purchasing residential property in England and Northern Ireland.
What about non-residential and mixed property?
The rates for non-residential and mixed property are set out in the table below.
The SDLT rates are payable on the portion of the property value which falls within each band.
| Non-residential and mixed | Band % Rates |
|---|---|
| £0 – £150,000 | 0 |
| £150,001 – £250,000 | 2 |
| £250,001 and over | 5 |
Are there any exemptions?
Yes. There are a number of situations in which the transfer of land will not be caught for SDLT. No SDLT will be payable and no return will be due. These include:
- the value of the freehold is less than £40,000
- a licence to occupy
- a gift of land
- transfers of land in a divorce or on death
- transfer of land to a charity
- transfers of land within a group of companies where an SDLT group relief claim is made.
How does the tax work on leases?
The SDLT payable on the purchase of a lease depends on whether the lease is new or existing (an assigned lease).
Where a new lease is purchased the SDLT payable will be calculated on the value of the premium (upfront lump sum payment). If anything more than a nominal rent is payable, SDLT will also be payable on the net present value (NPV) of the rent over the term of the lease. The premium and the NPV are treated as two separate amounts. If the calculated value of either exceeds £250,000 for residential property and £150,000 for non-residential, the excess is charged SDLT at the normal rates.
An SDLT return will be due where the premium is £40,000 or more, even if no SDLT is due, unless the term of the lease is less than seven years.
If an existing lease is purchased, SDLT is calculated in the same way as the purchase of a freehold property. The amount of the premium is the consideration subject to SDLT and is also calculated in the same way as the purchase of a freehold property.
The government has SDLT calculators which work out the amount of SDLT payable. The calculators can be found at www.gov.uk/stamp-duty-land-tax-calculators.
How do I tell HMRC about a liability?
The purchaser must complete an SDLT1 return and this must be submitted to the relevant HMRC office within 14 days of the transaction’s effective date. Solicitors and conveyancers can submit the return online on your behalf. Otherwise, a paper return must be used. Payment must be made at the same time. A late return triggers an automatic penalty of £100, and late payment of the tax will mean a charge to interest.
What will HMRC do then?
A certificate will be sent to the purchaser to show that they have paid the tax. This certificate is required to change the details of the property ownership at the Land Registry. The fact that HMRC has given the purchaser a certificate does not mean the SDLT calculations are agreed. HMRC has nine months in which to decide whether or not to enquire into the return and challenge the figures.
