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

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

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

Popular Articles

Corporation Tax

Enterprise investment scheme tax relief

Enterprise investment scheme tax reliefOverview of EIS tax reliefsThe enterprise investment scheme (EIS) offers significant tax reliefs to encourage individuals to invest money in qualifying shares issued by qualifying unquoted companies. The scheme is designed to encourage investment in small,

14 Jul 2020 11:36 | Produced by Tolley Read more

Trusts and Inheritance Tax

BPR ― trading and investment businesses

BPR ― trading and investment businessesIntroductionThe basic qualification rules for business property relief (BPR) are illustrated in the Flowchart ― trading or investment business for BPR purposes.For an overview of BPR, see the BPR overview guidance note.Relevant business propertyThe main

14 Jul 2020 15:36 | Produced by Tolley Read more

Value Added Tax

UK VAT invoice requirements

UK VAT invoice requirementsThis guidance note provides details of the information that must be shown on a valid tax invoice. Businesses supplying goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.If the

14 Jul 2020 13:46 | Produced by Tolley Read more

SDLT ― administration