Stamp Taxes
The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is generally payable at 0.5 per cent.
Stamp Duty Land Tax
Stamp Duty Land Tax (SDLT) | 2014/15 | 2013/14 |
---|---|---|
0% residential | £0 – £125,000 | £0 – £125,000 |
1% residential | £125,001 – £250,000 | £125,001 – £250,000 |
3% residential | £250,001 – £500,000 | £250,001 – £500,000 |
4% residential | £500,001 – £1,000,000 | £500,001 – £1,000,000 |
5% residential | £1,000,001 – £2,000,000 | £1,000,001 – £2,000,000 |
7% residential | over £2,000,000 | over £2,000,000 |
15% non-residential | over £2,000,000 | over £2,000,000 |
0% non-residential | £0 – £150,000 | £0 – £150,000 |
1% non-residential | £150,001 – £250,000 | £150,001 – £250,000 |
3% non-residential | £250,001 – £500,000 | 250,001 – £500,000 |
4% non-residential | over £500,000 | over £500,000 |
From 20 March 2014 residential property purchased by non-natural persons for consideration exceeding £500,000 will be subject to SDLT at 15% | ||
Annual Tax on Enveloped Dwellings (ATED) | ||
Property value less than £2,000,000 | £0 | £0 |
Property value between £2,000,000 – £5,000,000 | £15,400 | £15,000 |
Property value between £5,000,000 – £10,000,000 | £35,900 | £35,000 |
Property value between £10,000,000 – £20,000,000 | £71,850 | £70,000 |
Property value more than £20,000,000 | £143,750 | £140,000 |
Stamp duty and stamp duty reserve tax | ||
Standard rate | 0.50% | 0.50% |
Higher rate | 1.50% | 1.50% |
New Leases
Duty is charged according to the net present value of all the rental payments over the term of the lease (NPV), with a single rate of 1% on residential NPV’s over £125,000 and on non-residential NPV’s over £150,000.
VAT is excluded from treatment as consideration provided the landlord has not opted to charge VAT by the time the lease is granted.
Lease premiums
Duty on premiums is the same as for transfers of land (except that the zero rate does not apply where rent of over £600 annually is also payable).