Stamp Duty Land Tax (SDLT)
This duty applies to the sale of land or buildings in the UK as follows:
From 20 March 2014 the residential properties in bands marked * are subject to SDLT at the rate of 15% where the property is acquired by a non-natural person such as a company, partnership or collective investment scheme. For sales in the period: 22 March 2012 to 19 March 2014 the 15% rate of SDLT only applied to properties sold for £2 million or more where the buyer was a non-natural person.
The percentage of bingo promotion profits paid in duty is cut from 20% to 10% with effect from 30 June 2014.
Machine Games Duty (MGD)
This duty was introduced from 1 February 2013, and must be collected by the owner of the premises where the game machine is provided for play.
MGD applies at two rates:
- 5% when the fee for playing a game is not more than 20p, and
- 20% for other machines
From 1 March 2015 MGD will apply at 25% for games which may cost £5 or more to play.
Air Passenger Duty (APD)
This duty currently applies at three rates (reduced, standard and higher) over four bands (A, B, C & D), according to the distance travelled.
From 1 April 2015 the bands will be reduced to two:
- – journeys up to 2000 miles
- – journey over 2000 miles
The rates will also be reduced except for the higher rate which applies to aircraft with fewer than 19 seats – generally luxury jets.