(a) TRANSFERS AT ARM'S LENGTH Market value Transfer Cumulative of real estate fee rate fees on upper limit C£ % C£ Up to - 10.000 5 500 10.001 - 20.000 6 1.100 20.001 - 35.000 6,5 2.075 35.001 - 50.000 7 3.125 50.001 - 75.000 7,5 5.000 Over - 75.000 8(b) TRANSFERS BY WAY OF GIFT
Transfers of property by way of gift are subject to the following fee rates on the assessed value of the property transferred. Assessed values are very small or negligible compared with the market value.
Transfer fee rate % From parents to children 4 From a family company to a child of a shareholder 4 Between spouses 8 Between third degree relatives 8 From a family company to the spouse of a shareholder or a third degree relative of a shareholder 8 To trustees Fixed fee of C£ 5 Note: A family company means a company the shareholders of which are the spouses and/or their children.
This information was correct in June 1997.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.