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Stamp Duty or Stamp Duty Land Tax are payable in respect of certain transactions and must be paid in order for the transaction to have legal effect.
The main transactions are:--
1. Buying a house, commercial property or land,
2. Buying shares, and
3. Leasing a property
Typically, the rates of tax are as follows:--
| Commercial Property: |
£0 - £125,000 |
0% |
| |
£125,001 - £250,000 |
1% |
| |
£250,001 - £500,000 |
3% |
| |
£500,001 or more |
4% |
Shares: 0.5%.
Leases:
1% of the discounted rental values under the lease over £125,000. |
