TCM4000 Reference Section | Inland Revenue Rates and Allowances |
Stamp Duty |
Stamp duty exemption for disadvantaged areas From 30th November 2001, stamp duty exemption is available for the purchase of property in certain designated disadvantaged areas of the UK, and where the consideration, or premium for a lease, does not exceed £150,000. |
Duty on conveyances and land transfers, as from 28/03/2000 | ||
Up to and including £60,000 (certificate of value for £60,000 must be inserted) |
0 | |
Over £60,000 but not more than £250,000 (certificate of value for £250,000 must be inserted) |
1% | |
Over £250,000 but not more than £500,000 (certificate of value for £500,000 must be inserted) |
3% | |
Over £500,000 | 4% | |
The old rates of 1%, 2½% and 3½% will apply if the contract is dated on or before 21/03/00. Note All amounts are now rounded up to the next multiple of £5 |
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Recent changes in the rates of duty on conveyances and land transfers | ||
Up to and including 07/07/97 | 1% | |
08/07/97 - 23/03/98 (inclusive) | 1% 1½% 2% | |
24/03/98 - 15/03/99 (inclusive) | 1% 2% 3% | |
16/03/99 - 27/03/00 (inclusive) | 1% 2½% 3½% | |
Duty payable on Leases: On the average rent | ||
Term not more than 7 years or indefinite | 1% (note 1) | |
Term more than 7 years but not more than 35 years | 2% | |
Term more than 35 years but not more than 100 years | 12% | |
Term more than 100 years | 24% | |
Note 1 Applies only where the rent exceeds £5,000 per annum | ||
Duty payable on Leases: On the premium | ||
Up to and including £60,000 with an annual rent of £600 or less (certificate of value for £60,000 must be inserted) (Note 1). |
0 | |
Over £60,000 but not more than £250,000 (certificate of value for £250,000 must be inserted) |
1% | |
Over £250,000 but not more than £500,000 (certificate of value for £500,000 must be inserted) |
3% | |
Premiums over £500,000 | 4% | |
Furnished Lettings - A letting agreement for any definite term less than a year of any furnished property where the rent exceeds £5,000 attracts a fixed duty of £5. If the annual rent on a lease for 7 years or less is £5,000 or below there is no duty to pay. This also applies in cases where the term is less than 1 year and the rent for the period is £5,000 or below. Note 1 If the annual rent is more than £600 a Certificate of Value for £250,000 may be included and duty is charged on the premium at 1% |
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Duty Payable on Buying Stocks and Shares | ||
Purchase Price (Consideration Money) | Duty | |
Up to £1,000 | £5.00 | |
£1,001 to £2,000 | £10.00 | |
£2,001 to £3,000 | £15.00 | |
£3,001 to £4,000 | £20.00 | |
£4,001 to £5,000 | £25.00 | |
£5,001 to £6,000 | £30.00 | |
£6,001 to £7,000 | £35.00 | |
£7,001 to £8,000 | £40.00 | |
£8,001 to £9,000 | £45.00 | |
£9,001 to £10,000 | £50.00 | |
Over £10,000: duty at the rate of 0.5% rounded up to the next multiple of £5 |
Source: HM Government Inland Revenue |