Practical Law UK Glossary 4-107-7303 (Approx. 3 pages)
Glossary
Stamp duty
A statutory tax on instruments, that is, written documents. The Finance Act 2003 substantially changed the application of stamp duty as a tax. From 1 December 2003 (the date of the introduction of stamp duty land tax)stamp duty is chargeable on shares, other marketable securities and certain transactions involving partnerships only. The rate of stamp duty on the transfer of these stampable assets is 0.5%.