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Alex J.
Alex J., Solicitor
Category: Law
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Experience:  Solicitors 2 years plus PQE
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How much stamp duty would I pay on a property value of 4 million

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How much stamp duty would I pay on a property value of 4 million pounds which has 14 acres of land. This land is only used for personal use. Would there be any stamp duty exceptiins

Thank you for your question and welcome.

My name is XXXXX XXXXX I will assist you.

With only the benefit of the information provided I can give you the following information:
1. If it is a residential property you will pay stamp duty land tax at 7%. On £4million this is £280k;
2. If they property is not residential you will pay stamp duty land tax at 4%. On £4million this is £160k.

For further information please see the HMRC website, otherwise I am happy to assist in any way I can.

Kind regards

Alex J. and other Law Specialists are ready to help you
Customer: replied 3 years ago.

Thank you for your reply but what I need to know is is there any stamp duty exception on a residential property that has a large amount of land


Thank you.

Presumably you are buying the property?

There is not going to be any specific exemption unless you can show that the property is not only used for residential purposes.

What is the land? IS it a forest? Is it under the same title as the house?

Kind regards

Customer: replied 3 years ago.

The land is under the same title as the house and it is extensive gardens and paddock

Customer: replied 3 years ago.

In this case you would not be eligible for stamp duty exception


Thank you.

This just sounds like a residential property, you would have to pay SDLT if that is the case.

To pay a lower rate you would have to prove it was a farm or non residential land for example.

Is there anything about the land that makes you think it should be exempt?

Kind regards