Stamp Duties
The rate of stamp duty / stamp duty reserve tax on the transfer
of shares and securities is unchanged at 0.5 per cent.
Stamp Duty Land Tax
Transfers of property are subject to stamp duty land tax at the
following rates:
| Consideration paid |
Land in disadvantaged
areas |
Other land
in the UK |
| |
Residential |
Non-residential |
Residential |
Non-residential |
| Up to £120,000 |
0% |
0% |
0% |
0% |
| £120,001 to £150,000 |
0% |
0% |
1% |
0% |
| £150,001 to £250,000 |
1% |
1% |
1% |
1% |
| £250,001 to £500,000 |
3% |
3% |
3% |
3% |
| Over £500,000 |
4% |
4% |
4% |
4% |
Partnerships
Stamp duty continues to apply to transfers of partnership interests,
but the amount payable will not exceed the amount that would have
been payable on the value of any shares or secutities included in
the transfer.
From 23 July 2004, stamp duty land tax applies to the transfer
of an interest in land into or out of a partnership or the transfer
of an interest in a partnership (where the partnership property
includes an interest in land).
New Leases
Duty is charged according to the net present value of all the rental
payments over the term of the lease (NPV), with a single rate of
1% on residential NPV's over £60,000 and on non-residential NPV's
over £150,000.
VAT is excluded from treatment as consideration provided the landlord
has not opted to charge VAT by the time the lease is granted.
Lease premiums
Duty on premiums is the same as for transfers of land (except that
the zero rate does not apply where rent of over £600 annually is
also payable).
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