Stamp Duty on Assets other than shares

The stamp duty land tax (SDLT) rates on the sale of assets (other than shares where the rate is shown in a separate table on the next page) are, subject to any changes, as shown in the table below.

These rates apply to land and buildings, both residential and commercial, and to other assets such as goodwill. Transactions in intellectual property (eg patents and trademarks) are, from 28 March 2000, exempt.

From 1st October 2007 new homes liable to SDLT including flats on the first sale are eligible to qualify for complete removal of SDLT.

The rate of duty continues to apply to the whole price paid. Attempts to stay just under a threshold where the value of a transaction is close to one will no doubt continue.

2012/13

Price Range

Stamp Duty Land Tax

Up to threshold (*)

Nil

threshold (*) up to £250,000

1%

£250,001 to £500,000

3%

Over £500,001 and over (all properties)

4%

£1,000,000 - £2,000,000 (Residential properties)

5%

Over £2 million (Residential properties)

7%

(*) The Threshold differs according to location and status
 

The Thresholds

£125,000

General Residential property

£150,000

Residential Property in disadvantaged (Enterprise ) areas

£150,000

Commercial Property

Stamp Duty on shares

The stamp duty rates on the Transfer of Shares for 2012/13 are

Value up to £1,000

NIL

Value exceeding £1,000

0.5% per £100 or part thereof.

The minimum per transaction is therefore £50.00.

There is no stamp duty on the issue of new shares, but all shares transferred are caught subject to the stated threshold.

The regional stamp offices have been closed and their work centralised in London. All stock transfer forms requiring stamping must now therefore be sent to London.

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For information of users:
This material is published for the information of clients. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by the authors or the firm.