Stamp taxes and annual tax on enveloped dwellings

  • Stamp duty land tax (SDLT) rates for commercial property: changes to rates, and a move to a ‘slice’ rather than a ‘slab’ system; i.e. tax payable at each rate on the portion of the purchase price which falls within each band, rather than at a single rate on the whole transaction value, broadly from 17 March 2016.
  • SDLT: higher rates (by three percentage points) on purchases of buy-to-let properties and second homes, and purchases of residential properties by companies, from 1 April 2016.
  • SDLT: changes to treatment of Property Authorised Investment Funds (PAIFs) and Co-ownership Authorised Contractual Schemes (CoACSs), from Royal Assent to the BillATED and the 15% SDLT rate: extensions to the reliefs for equity release schemes, property development activities and properties occupied by employees, from 1 April 2016.
  • ATED and alternative property finance in Scotland: changes to preserve existing position which depended on SDLT legislation now repealed in Scotland.
  • Stamp duty and stamp duty reserve tax: change in the valuation of ‘deep in the money’ options transferred to a clearance service or depositary receipt issuer, for options entered into, on or after 25 November 2015 and exercised on or after 23 March 2016.