land stamp duty
Discussion
We are about to buy a plot of land from a farmer to build a house on. Adjacent to the plot is a field which we have agreed to buy between 5-10 acres for grazing for the horses and sheep.
From a stamp duty perspective how is this looked at..as one transaction classified as residential or mixed use with part non residential/agricultural. Not looking to hoodwink HMRC but as the transaction is on the cusp of a banding just interested from a budgeting perspective
From a stamp duty perspective how is this looked at..as one transaction classified as residential or mixed use with part non residential/agricultural. Not looking to hoodwink HMRC but as the transaction is on the cusp of a banding just interested from a budgeting perspective
Edited by s2t on Saturday 16th February 15:00
Answering my own question from the HMRC site
SDLT rates for non-residential or mixed use properties
Non-residential property includes:
commercial property such as shops or offices
agricultural land
forests
any other land or property which is not used as a dwelling
six or more residential properties bought in a single transaction
A mixed use property is one that incorporates both residential and non-residential elements.
The table below applies for freehold and leasehold non-residential and mixed use purchases and transfers
So we are going to fall into the mixed use category I would say and am consequently happy with my potential stamp duty payment!
SDLT rates for non-residential or mixed use properties
Non-residential property includes:
commercial property such as shops or offices
agricultural land
forests
any other land or property which is not used as a dwelling
six or more residential properties bought in a single transaction
A mixed use property is one that incorporates both residential and non-residential elements.
The table below applies for freehold and leasehold non-residential and mixed use purchases and transfers
So we are going to fall into the mixed use category I would say and am consequently happy with my potential stamp duty payment!
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