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Stamp Duty

STAMP DUTY LAND TAX

Residential

Notes

Rate of SDLT on first property

Std Rate of SDLT if you previously

purchased

Rate of SDLT on additional properties

Property band

- consideration

If you own a residential property and purchase another that is NOT a replacement for your main residence, then higher rates of stamp duty (plus 3%) will be payable from 1.4 2016. It excludes annexes and granny flats.

For purchasing your first property less than £500K, you can claim a discount if you complete on or after 22.11.2017 so that the rate is 0% up to £300K and then 5% for £300,001-£500K. There is NO discount if the purchase price is greater than £500K and you will therefore pay the same standard SDLT as previous purchasers.

0%

0%

0%

£ < £40,000

0%

0%

3%

£0 - £125,000

0%/2%

2%

5%

£125,001 - £250,000

0%/5%

5%

8%

£250,001 - £300,000

5%/5%

5%

8%

£300,001 - £500,000

5%/5%

5%

8%

£500,001 - £925,000

10%

10%

13%

£925,001 - £1,500,000

12%

12%

15%

> £1,500,000

1. The tax rates above apply to increasing portions (slice) of consideration. 2. Stamp Duty Land Tax is charged at 15% on residential properties costing more than £500K bought by certain corporate bodies or ‘non-natural persons. 3. The higher rates above also apply to companies that purchase residential property, including the purchase of a first residential property.

Purchasers of land and buildings in Scotland pay Land and Building Transaction Tax (LBTT) with different bands and rates.


STAMP DUTY LAND TAX

Non - Residential - Freehold

Notes

Rate of tax

Property band - consideration

These new rates will apply  to transactions completed after 17 March 2016 on non-residential and mixed use properties. E.g. for a commercial property purchased for £275,000, the SDLT will be £3,250.

0%

£0 - £150,000

2%

£150,001 - £250,000

5%

> £250,000

Purchasers of land and buildings in Scotland Land and Building Transaction Tax (LBTT) with different bands and rates.

ANNUAL TAX ON ENVELOPED DWELLINGS (ATED)

Notes

PROPERTY VALUE

ATED

1.4.2018-31.3.2019

ATED

1.4.2017-31.3.2018

ATED applies to ‘high value’ residential properties that are held in a company, partnership, one or more corporate members or a similar structure. The  properties suffer an annual tax charge (ATED) based on the value of the property. There are a number of reliefs and exemptions available such as for properties let commercially or held as stock for development companies.

£500,001-£1,000,000

£3,600

£3,500

£1,000,001-£2,000,000

£7,250

£7,050

£2,000,001-£5,000,000

£24,250

£23,550

£5,000,001-£10,000,000

£56,550

£54,950

£10,000,001-£20,000,000

£113,400

£110,100

> £20,000,000

£226,950

£220,350

SDLT ON LEASES (RENT)  - Leasehold

Notes

Rate on Residential Property

Rate on non-residential property

On band of net present value

SDLT is payable by tenants of leased property and is based on the NET PRESENT VALUE of the lease payments (including any VAT) over the lease term.

The tenant or purchaser must submit a land transaction return and pay any SDLT within 30 days of the transaction date.

0%

0%

£0 - £125,000

1%

0%

£125,001 - £150,000

1%

1%

£150,001 - £5,000,000

1%

2%

>£5,000,000

Stamp duty applies to any instrument (a written document) used to transfer shares/stock and other marketable securities. It is payable by the transferee at 0.5% of the value if the transfer is by way of sale. Stamp Duty Land Tax (SDLT) (LBTT in Scotland) applies to land and property situated in the UK and is payable by a purchaser.