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Stamp duty is essentially a charge on certain documents, not transactions. However, an equivalent tax is charged on electronic share transfers under the CREST system. The most significant duties are based on the amount of consideration.
- 0.5% duty on share transfers.
- Conveyance or transfer on sale of certain assets including land, exchanges or partitions of land and lease premiums. Rates, charged on the whole consideration from 28 March 2000, are:
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| Up to £60,000 |
nil |
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| £60,001 to £250,000 |
1% |
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| £250,001 to £500,000 |
3% |
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| More than £500,000 |
4% |
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Property transfers in disadvantaged areas for consideration up to £150,000 are exempt from stamp duty. This exemption is to be extended to cover all transfers of non-residential property in disadvantaged areas from a date yet to be announced.
A special sliding scale applies to duty on rents.
Copyright © 2005 The GKP
Partnership
Tel: +44
(0) 208 998 3456 Fax: +44
(0) 208 998 1612
EALING
at Burbage Hse, 44 Mountfield Rd, Ealing W5 2NQ
TWICKENHAM at Mydhas House, 234 Nelson Rd, Twickenham, London TW27BW
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