Stamp Taxes
The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5 per cent.
Stamp Duty Land Tax
Transfers of property are subject to stamp duty land tax at the following rates:
| Consideration paid | Land in disadvantaged areas | Other land in the UK | ||
| Residential | Non-residential | Residential | Non-residential | |
| Up to £125,000 | 0% | 0% | 0% | 0% |
| £125,001 to £150,000 | 0% | 0% | 1% | 0% |
| £150,001 to £250,000 | 1% | 1% | 1% | 1% |
| £250,001 to £600,000 | 3% | 3% | 3% | 3% |
| Over £600,000 | 4% | 4% | 4% | 4% |
Partnerships
Stamp duty continues to apply to transfers of partnership interests, but the amount payable will not exceed the amount that would have been payable on the value of any shares or secutities included in the transfer.
Stamp duty land tax applies to the transfer of an interest in land into or out of a partnership or the transfer of an interest in a partnership (where the partnership property includes an interest in land). This applies only to partnerships whose main activity is not the carrying on of a trade (other than a trade of dealing in or developing land) or a profession.
New Leases
Duty is charged according to the net present value of all the rental payments over the term of the lease (NPV), with a single rate of 1% on residential NPV's over £125,000 and on non-residential NPV's over £150,000.
VAT is excluded from treatment as consideration provided the landlord has not opted to charge VAT by the time the lease is granted.
Lease premiums
Duty on premiums is the same as for transfers of land (except that the zero rate does not apply where rent of over £600 annually is also payable).
Want better TAX ADVICE for 2017-8?
Setting up in business | Legal Compliance | Keeping informed | Planning for profit | Raising finance |
| Managing growth | Buy, sell or merge | Minimising tax | Agreeing tax liabilities | Tax Rates 2017/2018 |
What Are The Benefits For You Demack?
- Most business owners are facing challenges in these harsh financial times. We are passionate about your business and finding not only solutions to these challenges, but also to help you progress, grow and, most importantly, keep more of what you earn.
- Despite the economic downturn our Top 15 customers have increased their combined net worth by 79% and are still growing!
Features |
Benefits |
| 1-3: Compliance work | |
Regular visits of at least three times a year Deeper knowledge/understanding of business We are interested in being closely associated with your business |
So you get peace of mind from knowing someone is paying close attention to how your business is running the whole year and not just when the accounts need doing. We will show you the valuable insight that can be gained from the analysis of your accounts. Helping you understand your accounts so you can spot potential opportunities or danger areas much more quickly, helping you plan your cash flow more accurately. And giving you guidance on how you can improve your profitability. So you know book-keeping and accounting systems are working through the year so preventing any nasty surprises at the end. You can get a lot more out of your accountant than compliance work. |
| 4: Pushing for Profits | |
Forecasts to implement the four ways to grow Using the details of your accounts Pushing for Profits workshop |
Time away from working IN your business to work ON your business allowing you to focus on its true potential. By using the four ways to grow model you will be able to set a specific action plan to develop your business over the coming financial year to maximize your profit margin. From our knowledge of your accounts we can create accurate forecasts that plot the best way to grow your business by highlighting the areas with the most potential for increased profitability. |
| 5: Taking Financial Control | |
Monthly accounts Budgets |
The monthly reviews of the taking financial control programme will keep you focused on your financial and tactical goals and keep a focused eye on profitable opportunities. The programme will make sure you have the ALL information you need to allow you to feel confident in all the necessary financial and tactical decisions you will need to make. It will also make sure you are within or beating your cash flow, balance sheet and P&L forecasts helping you make the most of the money you have and stop unnecessary wastage. |
6: Planning For Growth |
|
Development of Business Plan Helping you keep more of what you earn Tax mitigation |
All good businesses have a robust plan for the future. The Planning for Growth process helps you to construct a solid vision of the direction and growth of your business. From this strong relationship and in-depth understanding of your company you can develop long term strategies which include tax mitigation planning. |
Our Services
Business start-ups, Accounts Preparation, Tax Planning and Advice, Tax enquiry and investigations, Personal & Business Taxation including Income Tax, Self Assessment Tax, Coming into/Leaving the UK, Inheritance tax, Capital Gains Tax, Corporation Tax, National Insurance, PAYE, Value Added Tax Advice and Company Secretarial services
What a Demack Chartered Accountant can do for you? Call +44 (0)20 784 1122