STAMP Flashcards
1
Q
Buying new building, factory etc.? What other tax to remember?
A
Don’t forget STAMP DUTY! (Easy marks!)
2
Q
What price do you use for SDLT?
A
SDLT is on the VAT INCLUSIVE price
3
Q
Transfer building (SDLT) in 75% group?
A
“SDLT group relief
BUT! ‘degrouping charge’ if leave in 3 years”
4
Q
Basic catch-all SDLT terminology
A
‘Stamp Duty Land Tax of up to 5% (in tranches) would be due on transfer’
5
Q
When are there higher SDLTs?
A
“1. Transfer residential property to company (or pship etc.)
2. Company owns UK dwelling over 500k or multiple dwellings”