Which amount is the total SDLT payable on a £490,000 purchase if no exemptions apply?

• A. £9,500
• B. £12,000
• C. £14,500
• D. £29,000

Answer: (C)

This tests how SDLT is calculated for a standard residential purchase using the banded rates. For England/Wales, the rates are 0% on the first £125,000, 2% on the portion from £125,001 to £250,000, and 5% on the portion above £250,000 up to the price.

With a £490,000 price and no exemptions:

• 0% on £125,000 → £0

• 2% on £125,000 (the part from £125,001 to £250,000) → £2,500

• 5% on £240,000 (the part from £250,001 to £490,000) → £12,000

Total SDLT = £0 + £2,500 + £12,000 = £14,500.

So the correct total is £14,500. The other amounts would result from misapplying one or more bands, leaving out the tax due on portions of the price that fall into the 2% and 5% bands.