How high are stamp duty land tax and land registry fees?
A. From 1 December 2003, stamp duty land tax on freehold purchases ranges from 0 per cent (for purchases below £150,000) up to 4 per cent (for over £500,000). Stamp duty on initial lease premiums is similar. However, stamp duty of 1 per cent is payable even for premiums below £150,000 unless the annual rent is below £600. Also, if the ‘net present value’ of all the rental payments over the life of the lease is over £150,000, there is an additional stamp duty of 1 per cent of that value. There is no stamp duty on freehold or leasehold commercial property in designated deprived areas. From August 2006, land registry fees range from £40 up to £700, depending on the value of the property.
