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Stamp
duty exemption for disadvantaged areas
From
30th November 2001, stamp duty exemption is available for the purchase
of property in certain designated disadvantaged areas of the UK, and where
the consideration, or premium for a lease, does not exceed £150,000. For
further information, see
| Duty
on conveyances and land transfers, as from 28/03/2000* |
|
Up
to and including £60,000, provided a certificate of value
for £60,000 is included in the document
|
nil
|
|
Over
£60,000 but not more than £250,000, provided a certificate
of value for £250,000 is included in the document.
|
1%
|
|
Over
£250,000 but not more than £500,000, provided a certificate
of value for £500,000 is included in the document.
|
3%
|
|
Over
£500,000 .
|
4%
|
|
*The old rates of 1%, 2½% and 3½% will apply if the contract
is dated on or before 21/03/00.
N.B.
All amounts are now rounded up to the next multiple of £5
|
|
| Recent
changes in the rates of duty on conveyances and land transfers...
|
| Up
to and including 07/07/97 - |
1%
|
| 08/07/97
- 23/03/98 (inclusive) - |
1%
1.5% 2% |
| 24/03/98
- 15/03/99 (inclusive) - |
1%
2% 3% |
|
16/03/99
- 27/03/00 (inclusive) -
|
1%
2.5% 3.5%
|
|
| Duty
payable on Leases |
|
On
the average rent…
|
|
|
Lenh
of Term
|
Rate
of Duty
|
|
Not
more than 7 years or indefinite
|
1%*
|
|
More
than 7 years but not more than 35 years
|
2%
|
|
More
than 35 years but not more than 100 years
|
12%
|
|
Over
100 years
|
24%
|
|
*
Applies only where the rent exceeds £5,000 per annum.
|
|
|
On
the Premium…
|
|
|
Up
to and including £60,000 with an annual rent of £600 or less
(certificate of value for £60,000 must be inserted)*
* If the annual rent is more than £600 a Certificate of Value
for £250,000 may be included and duty is charged on the premium
at 1%
|
Nil
|
|
Over
£60,000 but not more than £250,000 (certificate of value for
£250,000 must be inserted)
|
1%
|
| Over
£250,000 but not more than £500,000 (certificate of value for
£500,000 must be inserted) |
3%
|
| Premiums
over £500,000 |
4%
|
| Furnished
Lettings - A letting agreement for any definite term less than
a year of any furnished property where the rent exceeds £5,000
attracts a fixed duty of £5. |
| If
the annual rent on a lease for 7 years or less is £5,000 or
below there is no duty to pay. This also applies in cases where
the term is less than 1 year and the rent for the period is
£5,000 or below. |
|
| Stamp
Duty Payable on Buying Stocks and Shares |
Purchase
Price
(Consideration Money) |
Duty |
|
|
£.
p |
|
Up
to 1,000
|
£5 |
|
£1,001
to £2,000
|
£10
|
|
£2,001
to £3,000
|
£15 |
|
£3,001
to £4,000
|
£20 |
|
£4,001
to £5,000
|
£25 |
|
£5,001
to £6,000
|
£30 |
|
£6,001
to £7,000
|
£35 |
|
£7,001
to £8,000
|
£40 |
|
£8,001
to £9,000
|
£45 |
|
£9,001
to £10,000
|
£50 |
|
Over
£10,000
|
duty
at the rate of 0.5% rounded up to the next multiple of £5 |
|
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