Q:

Do you pay stamp duty on commercial property?

A:

Quick Answer

Stamp duty land tax is applicable on most purchases and transfers of commercial property. Commercial and mixed-use properties that have a value up to 150,000 British pounds with annual rents of less than 1,000 pounds are not required to pay stamp duty land tax.

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Full Answer

Stamp duty land tax is charged between 1 and 4 percent on commercial properties. Properties that have a high annual rental income yield, more than 150,000 pounds, are required to pay an additional stamp duty tax of 1 percent on the amount of rental income that exceeds the 150,000 pound threshold. The stamp duty land tax is applicable to all nonresidential properties, including commercial and agricultural properties, forests, mixed use, both commercial and residential, buildings and six or more residential buildings purchased in one transaction.

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