A plot of land that has permission to build two, three bedroom semi-detached houses with GIA 96.58sqm/1040sqft, see link below.
Presently, the site has a dilapidated, timber frame semi-detached house that will need to be removed, and the party wall made good as part of the construction process.
The confirmed CIL liability is £43,946.
Development potential still exists, as the planning application was merely about getting approval. There’s clear scope to enhance the scheme, particularly through permitted development (up to 25 sq m) to create a 4th bedroom in the loft.
Based on property / land value of £400,000 there will be an approx of £ Stamp Duty due.
Tax Band
%
Taxable Sum
Tax
Less than £250k
0
£
£
£250k to £925k
5
£
£
£925k to £1.5M
5
£
£
Over £1,500,000
10
£
£
Over £1.5 million
12
£
£
Total
£
or purchases over £500k, SDLT is charged at 2% from £125k to £250k and 5% from £250k to £925k.
This stamp duty calculator is designed to give you an idea of your stamp duty liability when buying a freehold residential property in England & N.Ireland. Stamp duty calculations are rounded down to the nearest pound. Stampy Duty guide is approx. as of 1st April 2025 - please visit https://www.gov.uk/stamp-duty-land-tax for the latest information
400000.00
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