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Budget 2007
Stamp Duty
| Shares/marketable securities | Rate | ||
|
0.5% 1 | ||
|
max £5 |
Stamp Duty Reserve Tax Rate
|
0.5% | ||
Note: in most cases the tax is franked by the payment of stamp duty.
Stamp Duty Land Tax |
||
| Chargeable consideration2 other than rent | ||
| Residential | Non-residential | Rate 3 |
| £1-£125,000 | £1- £150,000 |
exempt 4 |
| £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% |
Land and buildings in disadvantaged areas |
||
| purchases of £150,000 or less | exempt4 | |
| New zero carbon homes up to £500,000 | exempt5 | |
Net Present Value of Rent
| Residential | Non-residential | Rate | |
| £1-£125,000 | £1-£150,000 | 0% | |
| On excess over £125,000 | On excess over £150,000 | 1% | |
Disadvantaged Areas
| net present value of rent £150,000 or less | exempt |
1 Rounded up to nearest £5
2 Or market value in certain circumstances
3 On whole consideration (VAT inclusive)
4 If annual rent greater than £6 exemption not available on lease premium and 1% rate applies.
5 Expected to take effect from 1 October 2007 until 3 September 2012. For purchase prices in excess of £500,000 the liability is reduced by £15,000.
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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