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Stamp Duties

Volume 465: debated on Tuesday 23 October 2007

To ask the Chancellor of the Exchequer what the stamp duty thresholds for residential properties were in each year since 1996-97. (158063)

The main thresholds for Stamp Duty and its replacement, Stamp Duty Land Tax (effective from 1 December 2003) are detailed in the following table, covering the period from 1996-97 onwards.

Threshold and rates of stamp duty

Commencing date1

Nil rate

1 per cent.

1.5 per cent.

2 per cent.

2.5 per cent.

3 per cent.

3.5 per cent.

4 per cent.

Considerations up to

Considerations exceeding

16 March 1993

£60,000

£60,000

8 July 1997

£60,000

£60,000

£250,000

£500,000

24 March 1998

£60,000

£60,000

£250,000

£500,000

16 March 1999

£60,000

£60,000

£250,000

£500,000

28 March 2000

£60,000

£60,000

£250,000

£500,000

1 December 20032

£60,000

£60,000

£250,000

£500,000

17 March 2005

£120,000

£120,000

£250,000

£500,000

23 March 2006

£125,000

£125,000

£250,000

£500,000

1 Information for 16 March 1993 to 28 March 2000 taken from the National Statistics publication ‘Inland Revenue Statistics 2000’, Table A.9. Information for dates from 1 December 2003 onwards were obtained from the publicly available data on the HMRC website (http://www.hmrc.gov.uk/so/rates/postdec03-rates.htm, hhttp://www.hmrc.gov.uk/so/rates/rates-mar05-06.htm, and http://www.hmrc.gov.uk/so/rates/index.htm).

2 As part of a major modernisation in Finance Act 2003, Stamp Duty was replaced by Stamp Duty Land Tax (SDLT) with effect from 1 December 2003.