Commentary

I4.423 Variations and disclaimers — stamp duty issues

IHT, trusts and estates

I4.423 Variations and disclaimers — stamp duty issues

I4.423 Variations and disclaimers — stamp duty issues

Stamp duty land tax ('SDLT'), effective from 1 December 2003, replaces stamp duty except in relation to instruments relating to stock or marketable securities1. SDLT only taxes transactions for a consideration concerning land or interests in land. An instrument of variation which is a gift is thus not subject to SDLT2.

In relation to cases where interests within the same estate are exchanged, there is a specific exemption from SDLT in relation to variations and disclaimers of deceased's persons' estates which fall within IHTA 1984, s 1423. As instruments of variation are within

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