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Page 29 of 31
Budget 2007
Stamp Duty
| Shares/marketable securities |
Rate |
|
0.5% 1 |
|
max £5 |
Stamp Duty Reserve Tax Rate
- Agreements for sale of chargeable securities
|
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.
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