Stamp Duty on Commercial Property
Stamp Duty on Commercial Property will be altered.
Currently, the rates apply to the whole transaction value but from 17 March this year the rates will apply to the value of the property over each tax band. The new rates and tax bands will be 0% for the portion of the transaction value up to £150,000; 2% between £150,001 and £250,000, and 5% above £250,000.
Stamp duty rates for leasehold rent transactions will also change with a new 2% stamp duty rate on leases with a net present value over £5 million.