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Stamp taxes and duties
Transfers of land and buildings (consideration paid)
Rate |
Residential in disadvantaged areas |
Residential outside disadvantaged areas |
Non-residential |
|
Total value of consideration |
|||
|
Zero |
£0 - £150,000 |
£0 - £125,000 |
£0 - £150,000 |
|
1% |
Over £150,000 - £250,000 |
Over £125,000 - £250,000 |
Over £150,000 - £250,000 |
|
3% |
Over £250,000 - £500,000 |
Over £250,000 - £500,000 |
Over £250,000 - £500,000 |
|
4% |
Over £500,000 |
Over £500,000 |
Over £500,000 |
The rates and thresholds for stamp duty land tax (SDLT) remain unchanged.
For residential land and property, the rates are 0 per cent for transactions of £125,000 or less, 1 per cent for over £125,000 to £250,000, 3 per cent for over £250,000 to £500,000 and 4 per cent for over £500,000. The 0 per cent band for residential transfers in designated disadvantaged areas extends to £150,000. For non-residential land and property, the rates are 0 per cent for transactions of £150,000 or less, 1 per cent for over £150,000 to £250,000, and thereafter the same as for residential land and property.
For new leases, the rates applicable in respect of the premium are the same as for transfers of land and buildings (except that special rules apply where the rent exceeds £1,000 annually for non-residential land and property. The £600 threshold has been abolished for residential land and property with effect from 12 March 2008).
For the rental element of new leases, the charge is based on the net present value (NPV), which is the total of the discounted annual rental payments. The NPV is charged at 1 per cent on the excess over £125,000 for residential land and property and 1 per cent on the excess over £150,000 for non-residential land and property.
New leases (lease duty)
Duty on the premium is the same as for transfers of land (except that special rules apply for non-residential land and property premium where rent exceeds £1,000 annually. The rules no longer apply to residential property from 12 March 2008). Duty on the rent is charged on any part of the net present value (NPV) which exceeds the threshold.
|
Rate |
Net Present Value of rent |
||
|
|
Residential in disadvantaged areas |
Residential outside disadvantaged areas |
Non-residential |
|
|
Slice of NPV |
||
|
Zero |
£0 - £150,000 |
£0 - £125,000 |
£0 - £150,000 |
|
1% |
Over £150,000 |
Over £125,000 |
Over £150,000 |
For new leases, the rates applicable in respect of the premium are the same as for transfers of land and buildings (except that special rules apply where the rent exceeds £1,000 annually for non-residential land and property. The £600 threshold has been abolished for residential land and property with effect from 12 March 2008).
For the rental element of new leases, the charge is based on the net present value (NPV), which is the total of the discounted annual rental payments. The NPV is charged at 1 per cent on the excess over £125,000 for residential land and property and 1 per cent on the excess over £150,000 for non-residential land and property.
Transfers of shares and stocks
The rate of stamp duty/stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5 per cent for 2008-09.