SDLTM09770 - SDLT - higher rates for additional dwellings: Condition A - Para 3(2) Sch 4ZA FA2003

Condition A is that the chargeable consideration for the purchase of a single dwelling must be equal to or more than £40,000 for the transaction to be a higher rates transaction.

Where only a share in a property is acquired, the £40,000 limit applies to the value of the interest acquired and not to the total value of the property. The £40,000 is not an allowance or a 0% tax band; if the chargeable consideration is equal to or more than £40,000 then the relevant higher rates apply to the whole chargeable consideration.