ACCA Strategic Professional · Advanced Taxation (UK) · Statutory obligations, time limits and the implications of non-compliance
Marlow Ltd buys non-residential freehold land in England for £300,000. Using the ATX-UK non-residential SDLT slice rates (0% to £150,000; 2% from £150,001 to £250,000; 5% above £250,000), what is the SDLT payable?
The SDLT is £4,500. The slice rates apply progressively: nothing on the first £150,000, 2% on the next £100,000 giving £2,000, and 5% on the last £50,000 giving £2,500.
- A£4,500Correct
- B£15,000
- C£7,000
- D£5,000
Explanation
The first £150,000 is at 0%, so £0. The next £100,000 at 2% is £2,000. The remaining £50,000 at 5% is £2,500. Total is £4,500. Option £15,000 wrongly applies 5% to the whole price.
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