stamp duty?

[missacs1984]

i know that you have to pay stamp duty if you buy a property which has a value over the threshold, but do you also have to pay stamp duty on a rented property (business premises not residential)? i'm sure ive read somewhere that you do if the rent is over 12k???. if anyone knows the ins and outs of this i'd be grateful

[Buenchico]

If it's an existing (i.e. 'assigned') lease, with a lease premium not exceeding �150,000, and with an annual rent of less than �1000, SDLT ('stamp duty') is not payable.

If it's an assigned lease, with a lease premium not exceeding �150,000, and with an annual rent of �1000 or more, SDLT is 1%

If the lease premium on an assigned lease exceeds �150,000, the annual rent is irrelevant . For a lease premium up to �250,000, SDLT is 1%. Above that, up to a lease premium of �500,000, SDLT is 3%. For lease premiums exceeding �500,000, SDLT is 4%

For new leases the above rules still apply but, additionally, SDLT may be charged on the rent. If the 'net present value of the rent payable' (which is HMRC's estimate of the total amount of rent which will be paid during the life of the lease) is less than �150,000 no SDLT is payable on the rent. If the figure is higher, SDLT is charged at 1% of the value which exceeds �150,000.

http://www.hmrc.gov.uk/sdlt/index.htm

Chris

[Eve]

Some calculators here which might help...

http://www.hmrc.gov.uk/so/new-sdlt-calculators .htm