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ARTICLE · 20 FEBRUARY 2025

How Will The SDLT Changes Impact The Property Market?

Herrington Carmichael LLP
Herrington Carmichael LLP
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Herrington Carmichael LLP

Herrington Carmichael LLP

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The recent updates to Stamp Duty Land Tax (SDLT) rates and thresholds following the October 2024 budget mark a significant shift in property taxation.

United KingdomReal Estate and Construction
Liz Hailey
Liz Hailey
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The recent updates to Stamp Duty Land Tax (SDLT) rates and thresholds following the October 2024 budget mark a significant shift in property taxation. These changes, which affect both residential and commercial properties, will have profound implications for the UK property market. We assess these impacts against the backdrop of current market conditions.

SDLT Changes: A Recap

  1. Abolition of Multiple Dwellings Relief from 1 June 2024:
    • Multiple Dwellings Relief previously applied to transactions of one or more residential properties, broadly putting buyers in the same position that they would have been had they bought the properties separately. This relief has been withdrawn, though buyers of six or more properties can still rely on the non-residential rate.

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