United Kingdom
"Stamp Duty Reserve Tax" (SDRT) was introduced on agreements to transfer certain shares and other securities in 1986, albeit with a relief for intermediaries (such as market makers and large banks that are members of a qualifying exchange). "Stamp Duty Land Tax" (SDLT), a new transfer tax derived from stamp duty, was introduced for land and property transactions from 1 December 2003. SDLT is not a stamp duty, but a form of self-assessed transfer tax charged on "land transactions".
On March 24, 2010, Chancellor Alistair Darling introduced two significant changes to UK stamp duty. For first-time buyers purchasing a property under £250,000, stamp duty was abolished for the next two years. This measure was offset by a rise from 4% to 5% in stamp duty on properties costing more than £1 million.
Read more about this topic: Stamp Duty
Famous quotes containing the words united and/or kingdom:
“I am colored but I offer nothing in the way of extenuating circumstances except the fact that I am the only Negro in the United States whose grandfather on the mother’s side was not an Indian chief.”
—Zora Neale Hurston (1891–1960)
“A box of teak, a box of sandalwood,
A brass-ringed spyglass in a case,
A coin, leaf-thin with many polishings,
Last kingdom of a gold forgotten face,
These lie about the room....”
—Philip Larkin (1922–1986)