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The changes to the farm consolidation relief on the sale and purchase of agricultural land that were announced in Finance Act 2017 commence on 1 August 2018.
A stamp duty exemption for farmers on the lease of agricultural land for farming use has commenced. The stamp duty exemption that applies for a lease of farm land for a period of 6 to 35 years has finally commenced. The exemption commenced on 1 July 2018.
The latest tax proposal is to try to impose stamp duty on non-residential property holding companies and other vehicles at a rate of 6% instead of the current 1% rate.
Stamp Duty on non-residential property increased from 2% to 6% from midnight on 10 October 2017.
Stamp duty is calculated based on the consideration paid for certain transactions that are recorded in a document. Market value may apply in certain circumstances, for example, if there is a gift or unascertainable consideration.
Stamp duty is calculated based on the consideration paid for certain transactions that are recorded in a document (or market value may apply in certain circumstances for example if there is a gift or unascertainable consideration).
Stamp duty is calculated based on the consideration paid for certain transactions that are recorded in a document (or market value may apply in certain circumstances for example if there is a gift or unascertainable consideration). Anti avoidance stamp duty provisions for land resting in contract has been introduced in 2013.
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