For over a decade following the introduction of stamp duty land tax, the tax payable on a chargeable transaction was, in imitation of the stamp-duty model, a single percentage of the whole chargeable consideration for the transaction. (‘Chargeable consideration’ is discussed in ¶40-000ff).

However, the calculation of the tax charge in the case of residential property was fundamentally redrawn from 4 December 2014, when the so-called ‘slab’ approach was replaced by ‘progressive’ rates. This legislative change was effected by the Stamp Duty Land Tax Act 2015.

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