When do you pay a duty on stamps?

Answer

Stamp duty is a tax that is payable in a number of transactions. It applies in purchases of shares and property. The types of stamp duty also vary. There is the stamp duty land tax and the stamp duty reserve tax. The two latter types were adopted after 2003.
2 Additional Answers
Stamp Duty refers to a tax which used to apply to all the purchases of property or shares. If you have to pay Stamp Duty on land or on share transactions, you have 30 days to get the documents stamped as well as pay the duty. If the documents are late and you do not have a good reason, you might have to pay a penalty and interest.
First time buyers of property or land in the UK must pay stamp duty. It is a mandatory land tax, which is payable when one purchases a property or land in the UK. The amount that one pays depends on the purchase price of that property.
Explore this Topic
The avoidance of the payment of stamp duty is legal while its evasion is illegal. One of the best ways to do this is to buy property in areas that the government ...
Stamp Duty is payable only on the purchase or transfer of land or property where the amount paid is above a certain threshold. Stamp Duty was first introduced ...
Stump duty will depend on the purchase price of the house. If your purchase price is more than 125,000 you pay stamp duty land tax of between one and four percent ...
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