The following Corporation Tax guidance note by Tolley in association with Grant Thornton's stamp taxes team provides comprehensive and up to date tax information covering:
Stamp Duty Land Tax (SDLT) is generally payable on the purchase or transfer ofinterests in land and buildings in England, Wales and Northern Ireland where the amount paid is above a certain threshold. In addition, most ofthese land and property
transactions must be notified to HMRC on an SDLT return, even if no tax is due. Please refer to the SDLT ― administration guidance note for further commentary on notifiable transactions.
From 1 April 2015, the Land and Buildings Transaction Tax (LBTT) applies to land transactions in Scotland. For details ofLBTT, see Sergeant and Sims on Stamp Taxes AA12–AA22 (SSSD, AA[AA351]–SSSD, AA[AA851]). See also the Revenue Scotland
website. Scotland Act 2012, ss 28, 29, Sch 3; Land and Buildings Transaction Tax (Scotland) Act 2013
Whilst the underlying rules applying to LBTT, LTT and SDLT are broadly similar in nature, the taxes are not identical. The rest ofthis guidance note covers the law that applies to transactions in England and Northern Ireland.
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