Stamp and Property Taxes

Stamp Duty Land Tax: Extension of Multiple Dwellings Relief

The SDLT relief for transactions involving interests in more than one dwelling is to be extended to include purchases from certain shared ownership bodies of superior leasehold interests in property subject to shared ownership leases where the transaction is part of a lease and leaseback arrangement. The change will apply to transactions with an effective date on or after the date of Royal Assent to Finance Act 2015.

Stamp Duty Land Tax: Alternative Property Finance

A change is to be made to the SDLT alternative property finance reliefs which apply where a property is purchased using a method of financing which does not involve the payment of interest. The reliefs will be extended to apply to all purchases which are financed using a home purchase plan provided by an authorised provider. The change will apply to transactions with an effective date on or after the date of Royal Assent to Finance Act 2015.

Annual Tax on Enveloped Dwellings (ATED)

The 2015/16 ATED annual charges will be as follows:

Property value Annual charge in 2015/16
More than £1m but not more than £2m £7,000
More than £2m but not more than £5m £23,350
More than £5m but not more than £10m £54,450
More than £10m but not more than £20m £109,050
More than £20m £218,200


Reducing Administrative Burden of ATED

Legislation will be introduced in Finance Bill 2015 to reduce the administrative burden on businesses which hold properties eligible for a relief from ATED and for which there is no tax liability. For chargeable periods beginning on or after 1 April 2015 such businesses will be able to submit a relief declaration return. A relief declaration return can only relate to one type of ATED relief, but subject to this it can be made in respect of one or more single-dwelling interests, which do not need to be identified. For the 2015/16 year only, relief declaration returns must be filed by 1 October 2015. For subsequent years the normal filing date of 30 April will apply.