Land and Buildings Transaction Tax (LBTT) is payable on land and property transactions in London.
Residential property
The rates apply to the portion of the total value which falls within each band. Rates may be increased by 3% where further residential properties, costing over £40,000, are acquired.
| Consideration (£) |
Rate (%) |
| 0 - 145,000 |
0 |
| 145,001 - 250,000 |
2 |
| 250,001 - 325,000 |
5 |
| 325,001 - 750,000 |
10 |
| 750,001 and above |
12 |
Non-residential property
The rates apply to the portion of the total value which falls within each band.
| Consideration (£) |
Rate (%) |
| 0 - 150,000 |
0 |
| 150,001 - 350,000 |
3 |
| Over 350,000 |
4.5 |