Rates and Allowances - Stamp Duty Pre 01/12/2003
Warning: All information accessed from this page is relevant to 'stamp duty prior to 1st December 2003'.
Stamp duty applies to a conveyance, transfer or a lease of land where the instrument was executed prior to 1st December 2003. For instruments executed on or after 1 December 2003, stamp duty applies only to transfers of stock and marketable securities, and to certain transfers of interest in partnerships.
If you are in any doubt as to whether stamp duty applies to a particular transaction please, contact the Stamp Office Helpline.
Land transactions which become effective on or after 1st December 2003 are subject to stamp duty land tax (SDLT). See the Stamp Duty Land Tax Manual.
| Amount |
Rate of Duty |
|---|---|
Up to and including £60,000,
provided a certificate of value for £60,000 is included
in the document |
nil |
Over £60,000 but not more
than £250,000, provided a certificate of value for £250,000
is included in the document. |
1% |
Over £250,000 but not more
than £500,000, provided a certificate of value for £500,000
is included in the document. |
3% |
Over £500,000 |
4% |
*The old rates of 1%, 2½% and 3½% will apply if the contract is dated on or before 21/03/00.
N.B. All amounts are now rounded up to the next multiple of £5
Period |
Rate of Duty |
|---|---|
Up to and including 07/07/97 - |
1% |
08/07/97 - 23/03/98 (inclusive) - |
1% 1.5% 2% |
24/03/98 - 15/03/99 (inclusive) - |
1% 2% 3% |
16/03/99 - 27/03/00 (inclusive) - |
1% 2.5% 3.5% |
Length of Term |
Rate of Duty |
|---|---|
| Not more than 7 years or indefinite | 1% |
| More than 7 years but not more than 35 years | 2% |
| More than 35 years but not more than 100 years | 12% |
| Over 100 years | 24% |
* Applies only where the rent exceeds £5,000 per annum.
| Length of Term |
Rate of Duty |
|---|---|
| Up to and including £60,000 with an annual
rent of £600 or less (certificate of value for £60,000 must
be inserted)* * If the annual rent is more than £600 a Certificate of Value for £250,000 may be included and duty is charged on the premium at 1% |
Nil |
| Over £60,000 but not more than £250,000 (certificate of value for £250,000 must be inserted) | 1% |
Over £250,000 but not
more than £500,000 (certificate of value for £500,000 must
be inserted) |
3% |
Premiums over £500,000 |
4% |
Furnished Lettings - A letting agreement for any definite term less than a year of any furnished property where the rent exceeds £5,000 attracts a fixed duty of £5.
If the annual rent on a lease for 7 years or less is £5,000 or below there is no duty to pay. This also applies in cases where the term is less than 1 year and the rent for the period is £5,000 or below.
| Purchase Price (Consideration Money) | Duty (£. p) |
|---|---|
| Up to 1,000 |
£5 |
| £1,001 to £2,000 |
£10 |
| £2,001 to £3,000 |
£15 |
| £3,001 to £4,000 |
£20 |
| £4,001 to £5,000 |
£25 |
| £5,001 to £6,000 |
£30 |
| £6,001 to £7,000 |
£35 |
| £7,001 to £8,000 |
£40 |
| £8,001 to £9,000 |
£45 |
| £9,001 to £10,000 |
£50 |
| Over £10,000 |
duty at the rate of 0.5% rounded up to the next multiple of £5 |
