What are the tax implications when buying land?
We advise that you seek independent tax advice from an expert. However, we can confirm that there is no stamp duty payable on a land purchase up to value of £175,000 per transaction. There is no VAT on land and there is no council tax payable on land without any form of development on it, so the only tax applicable is capital gains tax. A tax advantage may be enjoyed by purchasing land through a SIPP (Self-Invested Personal Pension).
