Budget 2004
Miscellaneous
Stamp Duty
| Conveyances on Sale |
Rate
|
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| Shares |
0.5% *
|
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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 |
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STAMP DUTY LAND TAX* |
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| 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 |
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| purchases of £150,000 or less |
exempt §
|
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| purchases of all non-residential property |
exempt
|
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| 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 |
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| net present value of rent £150,000 or less |
exempt
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| non residential property |
exempt
|
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* 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.
