Stamp Duty Land Tax Rates From 17/03/05 - 22/03/06

Please note that the applicable rate of Stamp Duty Land Tax must be applied to the whole of the consideration paid to acquire the land / buildings

Land Transactions with an effective date on or after 17th March 2005

Transfers of land and buildings (consideration paid)

Rate	Land in disadvantaged areas - Residential	Land in disadvantaged areas - Non-residential	All other land in the UK - Residential	All other land in the UK - Non-residential
Zero	£0 - £150,000	£0 - £150,000	£0 - £120,000	£0 - £150,000
1%	Over £150,000 - £250,000	Over £150,000 - £250,000	Over £120,000 - £250,000	Over £150,000 - £250,000
3%	Over £250,000 - £500,000	Over £250,000 - £500,000	Over £250,000 - £500,000	Over £250,000 - £500,000
4%	Over £500,000	Over £500,000	Over £500,000	Over £500,000

N.B. Disadvantaged Area Relief for non-residential land transactions is not available for non-residential land transactions with an effective date on or after 17 March 2005.

However the relief is preserved for:

• the completion of contracts entered into and substantially performed on or before 16 March 2005
• the completion or substantial performance of other contracts entered into on or before 16 March 2005, provided that there is no variation or assignment of the contract or sub-sale of the property after 16 March 2005 and that the transaction is not in consequence of the exercise after 16 March 2005 of an option or right of pre-emption.

New leases (lease duty)

Duty on rent

Rate	Net present value of rent - Residential	Net present value of rent - Non-residential
Zero	£0 - £120,000	£0 - £150,000
1%	Over £120,000	Over £150,000

Please note that when calculating duty payable on the 'NPV' (Net Present Value) of leases, you must reduce your 'NPV' calculation by the following before applying the 1% rate.

Residential - £120,000

Non-Residential - £150,000

Duty on premium is the same as for transfers of land (except special rules apply for premium where rent exceeds £600 annually).

The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5% for 2005-06.