HMRC have updated their guidance on SDLT today (27/08/20). The full guidance can be seen on the gov.uk web site.

SDLT higher rates apply when you buy residential property (or a part of one) for £40,000 or more and if all the following apply:

  1. It is not the only residential property worth £40,000 or more that you own (or part own) anywhere in the world and
  2. You have not sold or given away your previous main home and
  3.  No one else has a lease on it with more than 21 years left to run.

A company is liable for the higher rate when purchasing a residential property unless the price is less than £40,000 and none else has a lease on it with more than 21 years left to run.