SDLT ― administration

Produced by Tolley in association with Sean Randall

Corporation Tax

Guidance

Stamp duty land tax (SDLT) was introduced for land transactions with effect from 1 December 2003. SDLT is a tax based on the acquisition of a chargeable interest, whether or not evidenced in writing.

Scotland and Wales now have their own regimes.

Land and buildings transaction tax (LBTT) applies to land transactions in Scotland. For details of LBTT, see Sergeant and Sims on Stamp Taxes AA12–AA22 (SSSD, AA[AA351]–SSSD, AA[AA862]). See also the guidance on the Revenue Scotland website.

Land transaction tax (LTT) applies to land transactions in Wales. For details of LTT, see Sergeant and Sims on Stamp Taxes AA23–AA34 (SSSD, AA[AA901]–SSSD, AA[AA2115]). See also the guidance on the Welsh Revenue Authority website.

Whilst the underlying rules applying to LBTT, LTT and SDLT are broadly similar in nature, the taxes are not identical. See the Comparison of the property stamp taxes within the UK guidance note. The rest of this guidance note covers the law that applies to transactions in England and Northern Ireland.

This guidance note considers the administration of SDLT for companies. For details

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Sean Randall

Partner at Blick Rothenberg , Corporate Tax

20 years’ “Big Four” stamp duty experience, including building and running KPMG’s UK stamp duty team for five years Chair of the professional body for stamp duty advisers, the Stamp Taxes Practitioners Group (over 200 members) Editor and author of Sergeant and Sims on Stamp Taxes since 2008 Former Tax Writer of the Year Author of the Law Society’s SDLT Handbook: A Guide for Residential Conveyancers Fellow of the Chartered Institute of Taxation Barrister (non-practising) Listed in Spear’s 500

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