10 terms
Tax & Finance Property Terms
Stamp duty, capital gains tax, and other financial and tax terms relevant to UK property.
- Capital Gains Tax (CGT)
- A tax on the profit when you sell an asset that has increased in value. Your main home is exempt (Private Residence Relief), but CGT applies to second homes, buy-to-let properties, and inherited pr...
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- CIL (Community Infrastructure Levy)
- A charge that local authorities can levy on new development to help fund infrastructure like roads, schools, and health facilities. CIL is calculated per square metre of new floor space. Some devel...
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- Council Tax
- An annual local tax charged by your council to fund local services (waste collection, roads, schools, social care). The amount depends on your property's council tax band (A to H, based on 1991 pro...
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- Help to Buy ISA
- A savings account (closed to new applicants since November 2019) where the government adds a 25% bonus when funds are used toward a first home. Maximum bonus is £3,000 on £12,000 of savings. Unlike...
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- LBTT (Land and Buildings Transaction Tax)
- Scotland's version of stamp duty, charged on property purchases. Like SDLT, LBTT is progressive — you pay different rates on different portions of the price. Rates and thresholds differ from Englan...
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- Lifetime ISA (LISA)
- A savings account for 18–39 year olds where the government adds a 25% bonus on contributions up to £4,000/year (max bonus £1,000/year). Can be used toward a first home worth up to £450,000 or retir...
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- LTT (Land Transaction Tax)
- Wales's version of stamp duty, charged on property purchases. Administered by the Welsh Revenue Authority. Rates and thresholds differ from both England and Scotland. Higher rates apply to addition...
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- Rental Yield
- The annual rental income from a property expressed as a percentage of its value. Gross yield is simply annual rent divided by purchase price. Net yield deducts costs like mortgage payments, managem...
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- SDLT (Stamp Duty Land Tax)
- A tax paid when you buy a property in England or Northern Ireland above a certain price threshold. SDLT is progressive — you pay different rates on different portions of the purchase price. From Ap...
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- SDLT (Stamp Duty Land Tax)
- The formal legal name for stamp duty in England and Northern Ireland. SDLT is a progressive tax calculated on a tiered basis — different rates apply to different portions of the purchase price, sim...
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