HMRC have updated their guidance on SDLT today (27/08/20). The full guidance can be seen on the gov.uk web site.
SDLT higher rates apply when you buy residential property (or a part of one) for £40,000 or more and if all the following apply:
- It is not the only residential property worth £40,000 or more that you own (or part own) anywhere in the world and
- You have not sold or given away your previous main home and
- No one else has a lease on it with more than 21 years left to run.
A company is liable for the higher rate when purchasing a residential property unless the price is less than £40,000 and none else has a lease on it with more than 21 years left to run.