Stamp Duties

The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5 per cent for 2003/04.

Stamp taxes from Budget day to 30 November 2003

Transfers of property (consideration paid)
Rate (%)	All property	Disadvantaged areas
Rate (%)		Residential	Non-residential
Zero	£0 - £60,000	£0 - £150,000	All
1	Over £60,000 - £250,000	Over £150,000 - £250,000
3	Over £250,000 - £500,000	Over £250,000 - £500,000
4	Over £500,000	Over £500,000

New leases (lease duty)
Duty on rent
Term	Rate of charge on average annual rent
Not exceeding 7 years	1 per cent *
More than 7 years but not exceeding 35 years	2 per cent
More than 35 years but not exceeding 100 years	12 per cent
More than 100 years	24 per cent
* applies only where the rent exceeds £5,000 per annum

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

Stamp taxes from 1 December 2003 (implementation of stamp duty land tax)

Transfers of property (consideration paid)
Rate %	All land in the UK		Land in disadvantaged areas
Rate %	Residential	Non-residential	Residential	Non-residential
Zero	£60,000	£150,000	£150,000	All
1	Over £60,000 - £250,000	Over £150,000 - £250,000	Over £150,000 - £250,000
3	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
Property that is not land, shares or interests in partnerships will no longer be subject to stamp duty.

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