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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 main duty is 0.5% on share transfers.
Stamp
duty land tax (SDLT) is charged on most land transactions. For acquisitions
and lease premiums, rates, charged on the whole consideration, are:
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Up to
£120,000*
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nil
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£120,001
to £250,000
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1%
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£250,001
to £500,000
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3%
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More
than £500,000
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4%
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*£150,000 for non-residential land and for
residential property transfers in disadvantaged areas.
SDLT is charged on lease rents at 1% of the net present
value of rent over the lease term to the extent that this exceeds £120,000
(residential) or £150,000 (commercial and disadvantaged areas).
The Dyer Partnership, 17 Westminster Court,
Hipley Street,
Old Woking, Surrey GU22 9LG
Copyright © 2002 - 2006 The Dyer Partnership
Limited
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