stamp duty

stamp duty
n [U] (BrE)
a tax that requires you to pay for a document to receive an official stamp in order to make it valid. In the past, stamp duty was paid on documents used to transfer houses and flats/apartments from one person to another. In December 2003 this was replaced by a Stamp Duty Land Tax. The new tax is paid directly to the government rather than by paying for a document to be stamped. The amount depends on the value of the property bought. Homes sold for between £60 000 and £250 000 are taxed at one per cent and the rate increases for more valuable properties. The new tax is often still referred to as ‘Stamp Duty’:

After we’d paid the solicitors’ fees and the stamp duty we had no money left for furniture.

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Universalium. 2010.

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  • Stamp duty — is a form of tax that is levied on documents. Historically, a physical stamp (a tax stamp) had to be attached to or impressed upon the document to denote that stamp duty had been paid before the document became legally effective. More modern… …   Wikipedia

  • Stamp duty — Stamp Stamp, n. 1. The act of stamping, as with the foot. [1913 Webster] 2. The which stamps; any instrument for making impressions on other bodies, as a die. [1913 Webster] T is gold so pure It can not bear the stamp without alloy. Dryden. [1913 …   The Collaborative International Dictionary of English

  • stamp duty — A tax on documents relating to specific transactions, share transfers and property transactions. The rate of duty are as follows: Documents Dependent on the type of documentation and the nature of the transaction. Share Transfers 0.5per cent per… …   Law dictionary

  • stamp duty — ► NOUN ▪ a duty levied on the legal recognition of certain documents …   English terms dictionary

  • stamp duty — stamp .duty n [U] a tax that must be paid in Britain on particular legal documents that have to be officially checked, especially when buying a house …   Dictionary of contemporary English

  • stamp duty — stamp ,duty noun uncount a tax that people in the U.K. pay on some official documents, especially when they are buying a house …   Usage of the words and phrases in modern English

  • stamp duty — noun a tax collected by requiring a stamp to be purchased and attached (usually on documents or publications) • Syn: ↑stamp tax • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement * * * noun : stamp tax …   Useful english dictionary

  • stamp duty — Applies mainly to international equities. Taxes on foreign transactions, usually a percentage of total transaction amount, that can be unilateral or bilateral in nature. Bloomberg Financial Dictionary A tax levied on the purchaser of securities… …   Financial and business terms

  • stamp duty — A UK tax collected by stamping the legal documents giving effect to specific transactions. Stamp duty was formerly levied on a wide range of instruments. However, the only transactions that now give rise to stamp duty proper are those in which… …   Big dictionary of business and management

  • Stamp Duty — The tax placed on legal documents usually in the transfer of assets or property. This duty is customary in the Commonwealth of Nation countries including Singapore and Australia and certain states in the United States. Where enforced, this tax is …   Investment dictionary

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