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The following rates apply for 2008/09 and 2007/08...
Stamp Duty Land Tax
The applicable rate of Stamp Duty Land Tax must be applied to the whole
of the consideration paid to acquire the land / buildings.
Rate
|
Land and buildings
in the UK |
Residential |
Non-residential |
Zero |
£0
- £125,000 |
£0
- £150,000 |
1% |
Over
£125,000
- £250,000 |
Over £150,000
- £250,000 |
3% |
Over
£250,000
- £500,000 |
Over £250,000
- £500,000 |
4% |
Over
£500,000 |
Over
£500,000 |
For disadvantaged areas, sales of land and buildings up to £150,000 are exempt.
Zero Carbon Homes
From 1 October 2007 until 30th September 2012, all new zero carbon homes and flats costing up to £500K are to be exempt from stamp duty land tax. Homes and flats above this will have the first £500K exempt. This only applies to new homes which have SDLT on the first sale.
New leases
(lease duty)
Duty on rent
Rate
|
Net present value of rent |
Residential |
Non-residential |
| Zero |
£0
- £125,000 |
£0 - £150,000 |
1% |
Over £125,000 |
Over
£150,000 |
|
Please note
that when calculating duty payable on the 'NPV' (Net Present Value) of leases,
you must reduce your 'NPV' calculation by the following before applying the 1% rate.
Residential -
£125,000
Non-Residential - £150,000
Duty on premium is the same as for transfers of land (except special rules apply for premium on non-residential properties where
the rent exceeds £1000 annually). Prior to 12th March 2008 this was £600 for all properties.
Stamp Duty
The rate of stamp
duty / stamp duty reserve tax for the transfer of shares and securities is at 0.5% for 2008-09. From 13th March 2008 where the consideration is £1000 or less on the transfer of shares, they will be exempt from stamp duty.
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