Q&As

How is SDLT charged in respect of a land swap between parties? Is there any guidance on this?

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Produced in partnership with Sean Randall of Blick Rothenberg
Published on LexisPSL on 17/10/2018

The following Tax Q&A produced in partnership with Sean Randall of Blick Rothenberg provides comprehensive and up to date legal information covering:

  • How is SDLT charged in respect of a land swap between parties? Is there any guidance on this?

How is SDLT charged in respect of a land swap between parties? Is there any guidance on this?

A swap applies where a purchaser of a chargeable interest, meets an obligation to give consideration by disposing of a chargeable interest. It engages special rules that modify the usual rule on what constitutes chargeable consideration.

Where either of the interests swapped is a freehold or leasehold estate (ie, a ‘major interest’) the rules (contained in paragraph 5 of Schedule 4 to the Finance Act 2003) provide that the ‘chargeable consideration’ (ie the amount or value

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