From today (6 April 2011) residential property with a purchase price of more than £1m will be subject to a higher Stamp Duty Land Tax (SDLT) rate of 5%.
This increase only applies to land which consists entirely of residential property. It does not apply to commercial or mixed used property where the SDLT rate remains at 4%
Steve Petty
Commercial Property Solicitor
01926 629 005
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