Budget 2008

Introduction

Personal Income Tax

Tax Credits

National Insurance Contributions

Employees

Savings & Investments

Capital Gains Tax

Stamp Duty Land Tax

Inheritance Tax

Corporation Tax

Business Tax

Value Added Tax

Other Measures

Tax Tables

National Insurance


Stamp Duty Land Tax

Zero-carbon flats

Purchasers of new "zero-carbon" flats with a price of up to £500,000 will enjoy a new exemption from Stamp Duty Land Tax. This relief is to be backdated to 1 October 2007.

Small share transfers

With effect from Budget Day, the transfer of stocks and shares for a consideration of up to £1,000 will be exempt from Stamp Duty. Previously a £5 minimum charge applied.

Shared ownership properties

In a shared ownership scheme a tenant purchases part of his house, pays rent for the remainder and is given an option to acquire the reversion. With effect from Budget Day, buyers of shared ownership properties will only pay Stamp Duty Land Tax when they acquire the final 20% of the property, unless they choose to pay the tax upfront.

 


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