Stamp Duty
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:
|
Value |
Rate |
|
Up to £60,000 |
nil |
|
£60,001 to £250,000 |
1% |
|
£250,001 to £500,000 |
2% |
|
More than £500,000 |
4% |
A special sliding scale applies to duty on rents.