Tax Tables 2007/08

Stamp Taxes

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

Stamp Duty Land Tax

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


Consideration paid Land in disadvantaged areas Other land in the UK
  Residential Non-residential Residential Non-residential
Up to £125,000 0% 0% 0% 0%
£125,001 to £150,000 0% 0% 1% 0%
£150,001 to £250,000 1% 1% 1% 1%
£250,001 to £500,000 3% 3% 3% 3%
Over £500,000 4% 4% 4% 4%

Partnerships

Stamp duty continues to apply to transfers of partnership interests, but the amount payable will not exceed the amount that would have been payable on the value of any shares or secutities included in the transfer.

Stamp duty land tax applies to the transfer of an interest in land into or out of a partnership or the transfer of an interest in a partnership (where the partnership property includes an interest in land). This applies only to partnerships whose main activity is not the carrying on of a trade (other than a trade of dealing in or developing land) or a profession.

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).
Whilst every effort has been made to ensure that the articles on MSN Money Tax Advice provide accurate and expert guidance, it is impossible to predict all the circumstances in which this information may be used. Accordingly, neither the publisher, author, MSN or Tax Buddies Limited shall be liable to any person or entity with respect to any loss or damage caused or alleged to be caused by the information contained in or omitted from articles on MSN Money Tax Advice. The law stated is that of England and Wales except where indicated otherwise.