Budget 2004

Grant Thornton


Miscellaneous

brought to you courtesy of Grant Thornton

Stamp Duty

Conveyances on Sale
Rate
Shares
0.5% *

From 1 December 2003 Stamp Duty does not apply to documents transferring other assets except transfers of land in pursuance of contracts entered into prior to 11 July 2003 and certain partnership transactions

Stamp duty land tax will apply to partnership transactions involving UK land and buildings from Royal Assent

* Rounded up to nearest £5

STAMP DUTY LAND TAX*

Chargeable consideration other than rent
Residential
Non-residential
Rate
£1-£60,000
£1-£150,000
exempt §
£60,001-£250,000
£150,001-£250,000
1%
£250,001-£500,000
£250,001-£500,000
3%
Over £500,000
Over £500,000
4%

Land and buildings in disadvantaged areas

purchases of £150,000 or less
exempt §
purchases of all non-residential property
exempt


Net Present Value of Rent
Rate
Residential Non-residential  
Up to £60,000 Up to £150,000
0%
On excess over £60,000 On excess over £150,000
1%

Disadvantaged Areas
net present value of rent £150,000 or less
exempt
non residential property
exempt

* Applies to transactions in UK land and buildings from 1 December 2003
Or market value in certain circumstances
On whole consideration
§ If annual rent greater than £600 exemption not available on lease premium and 1% rate applies

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.

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