Stamp Duty

Question 1

Stamp duty land tax SDLT

Answer 1

Payment is due 14 days after effective date of transaction- generally date if completion

Only the purchaser pays SDLT

Question 2

Stamp duty and stamp duty reserve tax

Answer 2

Stamp duty is a duty on documents that transfer the ownership of stocks and share

Stamp duty reserve tax is for paperless transactions using electronic transfer systems, agreement to transfer such shares

For each 0.5% is charged of the amount considered paid.

For stamp duty - amount payable rounded up to nearest £5- threshold of £1000 non due in transactions below 1k

For SDRT- no threshold rounded up to nearest penny

Purchaser responsible to pay tax to HMRC normally broker will handle this

Question 3

Stamp duty exemption

Answer 3

Eligible AIM are exempt from stamp duty