Stamp Taxes 2007/08

 

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%

 

Zero Carbon Homes

 

From 1 October 2007 until 30 September 2012 all new zero carbon homes costing up to £500,000 are exempt from stamp duty land tax. Homes above this will have the first £500,000 exempt. This only applies to new homes which have SDLT on the first sale.

 

 

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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