Stamp Taxes
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 £125,000 |
0% |
0% |
0% |
0% |
|
£125,001 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.
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). This applies only to
partnerships whose main activity is not the carrying on of a trade (other than a
trade of dealing in or developing land) or a profession.
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 £125,000 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).
|
