Budget 2008

Stamp Duty Land Tax - Budget 2008 - GT

Stamp Duty Land Tax

Chargeable consideration* other than rent
Residential Non-residential/mixed Rate†
£1-£125,000 £1-£150,000 exempt‡
£125,001-£250,000 £150,001-£250,000 1%
£250,001-£500,000 £250,001-£500,000 3%
Over £500,000 Over £500,000 4%
  • Residential property in disadvantaged areas up to £150,000
exempt‡
  • New zero carbon homes up to £500,000
exempt§
Net present value of rent
Residential Non-residential/mixed Rate
Up to £125,000 Up to £150,000 0%
On excess over £125,000 On excess over £150,000 1%
  • Residential property in disadvantaged areas with net present value up to £150,000
exempt

* Or market value in certain circumstances.
† On whole consideration (VAT inclusive).
‡ For transactions prior to 12 March 2008, if annual rent greater than £600 exemption not available on lease premiuman 1% rate applies. For transactions on or after 12 March 2008, if lease includes non-residential property and rent attributable to that part is £1,000 or more, exemption not available on lease premium an 1% rate applies.
§ From 1 October 2007 until 30 September 2012. For purchase prices in excess of £500,000 the liability is reduced by £15,000.

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