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Stamp taxes
Planning gain supplement See TM ¶9340 It has been announced that the planning gain supplement will not be introduced in the next Parliamentary session (although it has not been taken off the agenda altogether).
SDLT notifiable transactions See TM ¶9430 From Budget Day 2008, persons involved in either residential or non-residential property transactions where the chargeable consideration is below £40,000 will no longer need to complete a land transaction return. However, leases which satisfy all of the following criteria must still notified: - a term in excess of 7 years; - rent in excess of £1,000 per annum; and - chargeable consideration in excess of £40,000.
Small value transactions and stamp duty See TM ¶9546, ¶9575 From Budget Day 2008, transfers of shares and securities that currently only attract a stamp duty charge of up to £5 will be exempt, and so no submission of the instrument to HMRC will be necessary. This will affect instruments liable to either fixed rate or ad valorem duty.
SDLT and partnerships See TM ¶9769 Finance Bill 2008 will introduce rules (with retrospective effect back to 19 July 2007), which will ensure that no SDLT charge arises on the transfer of a property interest within an investment partnership.
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