Tax Rates 2024/25

 

 

Introduction
Income Tax
Pensions
Annual investment limits
National Insurance Contributions
Vehicle Benefits
Tax-free mileage allowances
Capital Gains Tax
Corporation Tax
Main capital allowances
Property Taxes
Value Added Tax
Inheritance Tax
Key dates and deadlines
Useful rates
National minimum wage

Property taxes

Annual Tax on Enveloped Dwellings (ATED)

ATED applies to ‘high value’ residential properties owned via a corporate structure, unless the property is used for a qualifying purpose. The tax applies to properties valued at more than £500,000.

Property value Annual charge to
  31.3.2025 31.3.2024
£0.5m - £1m £4,400 £4,150
£1m - £2m 9,000 8,450
£2m – £5m 30,550 28,650
£5m – £10m 71,500 67,050
£10m – £20m 143,550 134,550
Over £20m 287,500 269,450

Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT)

Residential property (1st property only)
SDLT - England & NI
£000
Rate LBTT - Scotland
£000
Rate LTT - Wales
£000
Rate
Up to 250 Nil Up to 145 Nil Up to 225 Nil
250 – 925 5% 145 – 250 2% 225 – 400 6.0%
925 – 1,500 10% 250 – 325 5% 400 – 750 7.5%
Over 1,500 12% 325 – 750 10% 750 – 1,500 10.0%
    Over 750 12% Over 1,500 12.0%

A supplement applies for all three taxes where an additional residential property interest is purchased for more than £40,000 (unless replacing a main residence). It is also payable by all corporate purchasers. The rate is 3% (SDLT), and 6% (LBTT) of the total purchase price. LTT has specific higher rates in bandings: up to 180k: 4%, 180 - 250k: 7.5%, 250 - 400k: 9%, 400 - 750k: 11.5%, 750-1,500k: 14%, >1,500k: 16%.

For SDLT:

– First-time buyers purchasing a property of up to £625,000 pay a nil rate on the first £425,000 of the purchase price.

– A 2% supplement applies where the property is bought by certain non-UK residents.

– A rate of 15% may apply to the total purchase price, where the property is valued above £500,000 and purchased by a ‘non-natural person’ (e.g. a company).

For LBTT, first-time buyer relief increases the nil rate band to £175,000.

Non-residential or mixed use property
SDLT - England & NI
£000
Rate LBTT - Scotland
£000
Rate LTT - Wales
£000
Rate
Up to 150 Nil Up to 150 Nil Up to 225 Nil
150 – 250 2% 150 – 250 1% 225 – 250 1%
Over 250 5% Over 250 5% 250 – 1,000 5%
        Over 1,000 6%