Stamp Taxes

The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is generally payable at 0.5 per cent.

Stamp Duty Land Tax

Transfers of property are subject to stamp duty land tax at the following rates:

Value up to £125,000*	Nil
Over £125,000* to £250,000	1%
Over £250,000 to £500,000	3%
Over £500,000 to £1,000,000**	4%
Over £1,000,000 to £2,000,000	5%**
Over £2,000,000**	7%**
* £150,000 for non-residential property, and residential property in disadvantaged areas Relief for new zero-carbon homes ends on 30th September 2012. ** Residential property only. A 15% rate will apply to properties over £2m purchased by certain non-natural persons.

New Leases

Duty is charged according to the net present value of all the rental payments over the term of the lease (NPV), with a single rate of 1% on residential NPV’s over £125,000 and on non-residential NPV’s over £150,000.

VAT is excluded from treatment as consideration provided the landlord has not opted to charge VAT by the time the lease is granted.

Lease premiums

Duty on premiums is the same as for transfers of land (except that the zero rate does not apply where rent of over £600 annually is also payable).