Stamp Taxes 05/06

 

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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