LTT

Question 1

LTT rates for Net Present Value (3 brackets)

Answer 1

• £0-£225,000 = Zero
• Portion from £225,000 to £2 million = 1%
• Portion above £2 million = 2%

Question 2

LTT rates for residential freehold (5 brackets)

Answer 2

No first-time buyer relief

• So much as does not exceed £225,000 - 0%
• So much as exceeds £225,000 but does not exceed £400,000 - 6%
• So much as exceeds £400,000 but does not exceed £750,000 - 7.5%
• So much as exceeds £750,000 but does not exceed £1,500,000 - 10%
• The remainder - 12%

Question 3

LTT rates for non-residential or mixed use freehold (4 brackets)

Answer 3

• So much as does not exceed £225,000 - 0%
• So much as exceeds £225,000 but does not exceed £250,000 - 1%
• So much as exceeds £250,000 but does not exceed £1m - 5%
• So much as exceeds £1m - 6%