Budget 2021: Land & Property
Land and Property measures including Stamp Duty Land Tax (SDLT), Annual Tax on Enveloped Dwellings (ATED) and Business Rates included in Budget 2021 are as follows:
SDLT nil rate band
The SDLT nil rate band threshold was increased to £500,000 from 8 July 2020 until 31 March 2021. This threshold now extends three months until 30 June 2021.
From 1 July 2021 the nil rate band reduces to £250,000 until 30 September 2021, before returning to its permanent level of £125,000 from 1 October 2021.
SDLT Freeports
SDLT relief for purchases of land and buildings within a Freeport tax site, subject to a 'control period' of up to three years and the land being acquired and used in a 'qualifying manner'.
SDLT Non-resident surcharge
As previously announced, from 1 April 2021 Non-UK residents will be subject to an additional 2% Stamp Duty Land Tax (SDLT) surcharge on the acquisition of UK residential property.
Annual Tax on Enveloped Dwellings (ATED)
New reliefs from ATED and the 15% rate of SDLT for certain qualifying housing co-operative come into effect on 3 March 2021.
A 100% business rates discount to businesses occupying eligible retail, hospitality and leisure properties and nurseries in England for 3 months from 1 April 2021.
For the remainder of the financial year, these properties will receive a 66% discount with a cap of £2 million per business for those that were required to close as at 5 January 2021 and a cap of £105,000 per business for those that were not required to close.
Businesses who do not feel that they were impacted by COVID-19 or who are altruistic can choose to opt-out of the relief
Useful guides on this topic
Budget 2021: Subscriber guide
A detailed guide with links to more detail on all the key topics for SMEs and their owners.
Budget 2021: At a glance
A summary key budget announcements together with items published without announcement.
SDLT Rates & Allowances
What is Stamp Duty Land Tax (SDLT)? What are the rates of Stamp Duty Land Tax (SDLT)?
Non-Residents' SDLT
An additional 2% Stamp Duty Land Tax (SDLT) surcharge
What is ATED? When does ATED apply? What relief is available and how is it claimed? What are the ATED filing requirements?
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