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Page 30 of 31
Budget 2004
Miscellaneous
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
*
|
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
|
Budget 2004
| 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
|
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