Stamp duty Flashcards
1
Q
Is stamp duty payable on the transfer of shares in a divorce?
A
No
2
Q
Is SDLT chargeable on the VAT exclusive or inclusive amount?
A
Inclusive
3
Q
If you own a house with someone and they gift you their portion. Is stamp duty payable on the value of the portion or the mortgage they have on it? Also, is it taxed as an additional property or still your first?
A
- tax the mortgage
- treat it as your first
4
Q
When calculating stamp duty on a lease, how do you treat the premium?
A
As you would for the purchase of a building
5
Q
When calculating stamp duty on a lease, how do you treat the rent?
A
Multiply it by the length of the lease and then use the lease rental %s
6
Q
What is stamp duty not charged on?
A
- issue of new shares or securities
- intra-group transfers (above 75% ownership)
7
Q
What are exempt from stamp duty?
A
- gifts
- divorce arrangements
- variations of wills
