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Stamp duty land tax traps

19 January 2021 / Suzanne O’Hara
Issue: 4776 / Categories: Comment & Analysis
Escaping from the property trap

Key points

  • The stamp duty land tax regime has been the subject of numerous recent changes.
  • HMRC’s SDLT calculator does not take all factors into account.
  • Importance of distinguishing residential and non-residential property.
  • Implications of property transfers for no consideration.
  • Multiple dwellings relief annexes and the 3% surcharge.
  • High value residential properties and non-natural persons.

Many conveyancers and tax practitioners may suspect that stamp duty land tax (SDLT) provisions have become increasingly complex since their introduction in 2003. They are right as can be seen from the developments in A brief history of SDLT. That chart summarises the story of SDLT thus far – and no doubt will need to be added to as a result of future budgets.

It seems that each year’s budget brings with it a new announcement including new rates and thresholds depending on the type of...

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