Duties Exel Accountancy in Watford

Duties

This duty applies to the sale of land or buildings in the England & N Ireland as follows:

Effective Date	Residential property	Non-residential or mixed property	Rate %
2020/21	Up to £125,000	Up to £150,000	0
	£125,001 to £250,000	£150,001 to £250,000	2
	£250,001 to £925,000	over £250,001	5
	£925,001 to £1.5m		10
	over £1.5m		12

If you are a first time buyers the tax rate is 0% upto first £300,000 for properties upto £500,000

If the property is purchased by a company for over £500,000, then 15% of total consideration is subjected to certain exemption.

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