AVRUPA TIMES/LONDON-Incremental rates of tax are only payable on the part of the property price within each band. An extra 3% rate (4% in Scotland) applies to purchases of additional residential property above £40,000 and all corporate residential properties. England & Northern Ireland: Stamp duty land tax. On the transfer of residential property*. On the transfer of non-residential property. * First-time buyers pay nothing on the first £300,000 for properties up to £500,000.
STAMP DUTY, PROPERTY TAXES.
A 5% rate will also apply between £300,000 and £500,000. For residential purchases by ‘non-natural persons’ over £500,000 a rate of 15% applies, subject to certain exclusions.
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