Summary
Summary SQE2 - Real Property (Tax)
- Course
- Institution
SDLT - Residential - Commercial - Returns VAT - Rates CGT - Chargeable gains - Exemptions & Reliefs
[Show more]
Seller
Follow
ayorke
Reviews received
Content preview
1) SDLTWhat is the SDLT rates for residential property?
Purchase price/Lease SDLT rate SDLT rate – Purchase additional
premium/Transfer value rental property
x < £125,000 Zero 3%
£125,001 < x < £250,000 2% 5%
£250,001 < x < £925,000 5% 8%
£925,001 < x < £1,500,000 10% 13%
£500,001 =< x 15% 15%
(purchased by corporates)
(20 March 2014 – present)
£1,500,001 < x 12% 15%
What is the SDLT rates for commercial property?
Purchase price/Lease SDLT rate
premium/Transfer value
x < £150,000 Zero
£150,001 < x < £250,000 2%
£250,001 < x 5%
Net present value (lease) SDLT rate
x < £150,000 Zero
£150,001 < x < £5,000,000 1%
£500,000,001 < x 2%
When are SDLT returns required?
SDLT returns are required for transfers of leasehold/freehold assignments, relief claims, lease
for more than 7 years, or other transactions. Form SDLT2 is required for at least two
sellers/buyers, Form SDLT3 is required for further space needed, Form SDLT4 is required
for complex commercial deals/leases, Form SDLT5 for land transaction return certificate.
They must be submitted to HMRC within 14 days of completion. Otherwise penalties,
interest and fine will be imposed.
SDLT returns are not required for freehold transactions worth less than £40,000, lease
purchases for more than 7 years and less than £40,000, lease purchases for less than 7 years
where SDLT threshold exceeds its value.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ayorke. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.32. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now