Tax Information Stamp Duties

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The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5 per cent for 2003/04.

Stamp taxes from 10 April 2003 to 30 November 2003

Transfers of property (consideration paid)
Rate (%) All property Disadvantaged Areas
Residential Non-residential
Zero £0 – £60,000 £0 – £150,000 All
1 £60,001 – £250,000 £150,001 – £250,000
3 £250,001 – £500,000 £250,001 – £500,000
4 Over £500,000 Over £500,000
New leases (lease duty) : Duty on Rent
Term Rate of charge on average annual rent
Not exceeding 7 years 1 per cent *
More than 7 years but not exceeding 35 years 2 per cent
More than 35 years but not exceeding 100 years 12 per cent
More than 100 years 24 per cent

* applies only where the rent exceeds £5,000 per annum

Duty on premium is the same as for transfers of property (except special rules apply for premium where rent exceeds £600 annually)

Stamp taxes from 1 December 2003 (implementation of stamp duty land tax)

Transfers of property (consideration paid)
Rate (%) All property in the UK Disadvantaged Areas
Residential Non-residential Residential Non-residential
Zero £0 – £60,000 £0 – £150,000 £0 – £150,000 All
1 £60,001 – £250,000 £150,001 – £250,000 £150,001 – £250,000
3 £250,001 – £500,000 £250,001 – £500,000 £250,001 – £500,000
4 Over £500,000 Over £500,000 Over £500,000

Property that is not land, shares or interests in partnerships will no longer be subject to stamp duty.

New leases : Proposed duty on rent *
Rate % Net present value of rent
Residential Non-residential
Zero £0 – £60,000 £0 – £150,000
1% Over £60,000 Over £150,000

* Subject to consultation

Duty on premium is the same as for transfers of land (except special rules apply for premium where rent exceeds £600 annually).