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VAT & STAMP
DUTY |
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Value Added Tax |
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Standard Rate: |
17.5% |
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Domestic fuel and power: |
from
1/9/97 |
5% |
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Registration level: |
from
10/4/03 |
£56,000 |
to
9/4/03 |
£55,000 |
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De-registration limit: |
from
10/4/03 |
£54,000 |
to
9/4/03 |
£53,000 |
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Car fuel: |
Vatable outputs based on car fuel benefit charge |
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Optional flat rate scheme for small firms with turnover less
than £150,000 from
10 April 2003 |
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Stamp Duty |
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On documents transferring property
(excluding shares) |
From
9/4/03 |
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Value under £60,000 |
Nil |
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£60,001-£250,000 |
1% |
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£250,001-£500,000 |
3% |
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£500,001+ |
4% |
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With effect from
30 November 2001, exemption from stamp duty relating to purchase of
property in certain designated
disadvantaged areas of the
UK. |
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With effect from
1 December 2003, implementation of stamp duty land tax at a rate of 0%
up to £150,000 applies to
non-residential property and new
leases of non-residential property. |
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