STAMP DUTY RATES
Where an individual purchases a site in connection with, or as part of, an arrangement to build a house or apartment on that site then stamp duty will be charged, subject to the reliefs referred to above, based on the aggregate amount of the site cost and the building cost at the appropriate residential property rate.
Where an individual purchases a site with no connected agreement to build a house or apartment, the transfer of the site is chargeable at the non-residential rates in the table below.
The transfer of a site from a parent to child is exempt from stamp duty where the site transfer is for the purpose of constructing a house which will be the childs main residence. Under the Finance Act 2008, the threshold for the site value in relation to this relief has been increased from 254,000 to 500,000 for instruments executed on or after 5 December 2007. The area of the site must be less than .4047 hectare (1 acre) exclusive of the area occupied by the house itself.
For instruments executed after 15 October 2008
For instruments executed after 15 October 2008
| Aggregate Consideration |
Rate of Duty |
| Up to 10,000 |
Exempt |
| 10,001 to 20,000 |
1% |
| 20,001 to 30,000 |
2% |
| 30,001 to 40,000 |
3% |
| 40,001 to 70,000 |
4% |
| 70,001 to 80,000 |
5% |
| Over 80,000 |
6% |
|
