STAMP

Question 1

Buying new building, factory etc.? What other tax to remember?

Answer 1

Don’t forget STAMP DUTY! (Easy marks!)

Question 2

What price do you use for SDLT?

Answer 2

SDLT is on the VAT INCLUSIVE price

Question 3

Transfer building (SDLT) in 75% group?

Answer 3

“SDLT group relief
BUT! ‘degrouping charge’ if leave in 3 years”

Question 4

Basic catch-all SDLT terminology

Answer 4

‘Stamp Duty Land Tax of up to 5% (in tranches) would be due on transfer’

Question 5

When are there higher SDLTs?

Answer 5

“1. Transfer residential property to company (or pship etc.)
2. Company owns UK dwelling over 500k or multiple dwellings”