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The Parliamentary Boroughs (England), Stamp Duty Act 1838 (1 & 2 Vict. c. 35) was an Act of Parliament in the United Kingdom, signed into law on 4 July 1838. It repealed the stamp duty payable on the admission of freemen by birth or servitude in city or borough constituencies .
A stamp duty was first introduced in England in 1694 following the Dutch model as An act for granting to Their Majesties several duties on Vellum, Parchment and Paper for four years, towards carrying on the war against France (5 & 6 Will. & Mar.
Stamp duty land tax (SDLT) is a tax on land transactions in England and Northern Ireland. It was introduced by the Finance Act 2003. It largely replaced stamp duty with effect from 1 December 2003. SDLT is not a stamp duty, but a form of self-assessed transfer tax charged on "land transactions".
The Budget in 2017 abolished stamp duty for first-time home buyers in England and Wales purchasing homes up to £300,000, saving first-time buyers up to £5,000. Additionally, first-time buyers spending up to £500,000 will only pay stamp duty at 5% on the amount in excess of £300,000. Those spending over £500,000 will pay full stamp duty. [17]
The act was described as a Consolidation Act. [4] The Stamp Act 1870 (33 & 34 Vict. c. 97) and the Inland Revenue Repeal Act 1870 (33 & 34 Vict. c. 99) were passed at the same time to amend and consolidate the law that had evolved over the last century relating to stamp duty and other inland revenue. [5]
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Consult this guide for full details. Note: Since 2010, almost all information owned by the UK Crown is offered for use and re-use under the Open Government Licence by authority of The Controller of His Majesty's Stationery Office. info
Consult this guide for full details. Note: Since 2010, almost all information owned by the UK Crown is offered for use and re-use under the Open Government Licence by authority of The Controller of His Majesty's Stationery Office. info