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:
| Value
up to £125,000* |
Nil |
| Over £125,000*
to £250,000 |
1% |
| Over £250,000
to £500,000 |
3% |
| Over £500,000 |
4% |
| * £150,000
for non-residential property and
residential property in disadvantaged
areas.Special rules apply for new
zero-carbon homes. |
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 securities 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).
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