Stamp Duty Land Tax (SDLT)
The rate of SDLT for a UK incorporated company purchasing UK residential property for more than £500,000 is 15% for the first purchase and 18% for additional properties.
In addition to the normal rate, from 1 April 2021, HMRC has further penalised offshore companies investing in UK residential property by implementing an additional 2% SDLT surcharge, in addition to the normal rates. This results in a rate of 20% on the purchase of a second or further properties by an offshore company.
Where a company is acquiring multiple dwellings or there is mixed commercial and residential use of a property, the relevant SDLT reliefs should be considered.