3% SDLT extra

[diseasex]

0% SDLT band is now £0 - £40,000. There is no 3% BTL surcharge on this.

So, go oop North and fill yer boots.

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SDLT rates and thresholds for residential properties
SDLT is charged at increasing rates for each portion of the purchase price.

Use HM Revenue and Customs’ (HMRC) SDLT calculator to work out how much you’ll pay.

Property purchase price SDLT rate from 4 December 2014
Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

[d000hg]

Now we have the sensible sliding scale of SDLT, where does the 3% go? Do you pay a flat rate of 3% on the whole value, as an additional fee to the sliding scale amount?