Email: info@taxreturn.co.uk



Please find below details of the new tax rates and allowances

which are applicable for the year commencing April, 2016.


Please do not hesitate to contact us if you would like further information

or you wish to discuss any of the tax rates or allowances in more detail.


                                 

Stamp Taxes

The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is generally payable at 0.5%.

Stamp Duty Land Tax (SDLT)

On the transfer of property in England, Wales and Northern Ireland, the SDLT is:

  Residential Property
  Sole Additional
Value up to £40,000 0% 0%
Over £40,000 to £125,000 0% 3%
Over £125,000 - £250,000 2% 5%
Over £250,000 - £925,000 5% 8%
Over £925,000 - £1,500,000 10% 13%
Over £1,500,000 12% 15%
Residential SDLT calculated on the consideration falling within each band. Additional SDLT of 3% may apply to the purchase of additional residential properties from 1 April 2016.
Non-residential  
Value up to £150,000 0%
Over £150,000 - £250,000 2%
Over £250,000 5%
From 17 March 2016 the calculation of SDLT on purchase of non-residential property was changed from the whole transaction value to the same basis as residential (consideration falling within each band).


SDLT rates for leasehold rent transactions have also changed, with a new 2% rate on leases with a net present value (NPV) over £5 million.

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