Corporation Tax

SDLT ― administration

Produced by Tolley in association with Grant Thornton's stamp taxes team
  • 27 Jun 2022 10:01

The following Corporation Tax guidance note Produced by Tolley in association with Grant Thornton's stamp taxes team provides comprehensive and up to date tax information covering:

  • SDLT ― administration
  • Is the transaction notifiable?
  • Filing and payment deadline
  • SDLT returns
  • Who is the purchaser?
  • Interest and penalties
  • Interest
  • Late filing penalties
  • Incorrect returns
  • Amendment of the SDLT return
  • More...

SDLT ― administration

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

When it was originally introduced, SDLT applied to all UK land transactions. Devolution has resulted in Scotland and Wales introducing their own regimes.

From 1 April 2015, 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.

From 1 April 2018, 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. 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 of how to determine the chargeable consideration, the rate of SDLT that applies and the various SDLT reliefs available, see the Stamp duty land tax ― basic rules for companies and Stamp duty land tax ― basic rules for companies ―

Access this article and thousands of others like it
free for 7 days with a trial of TolleyGuidance.

Popular Articles

Income tax during administration

Liability of the personal representativesAfter a person’s death, the property of the deceased is vested in the personal representatives (PRs) to enable them to manage and distribute the estate in accordance with the Will or the terms of intestacy. See the Personal representatives guidance note.The

23 Mar 2022 10:52 | Produced by Tolley Read more Read more

Investors’ relief

Investors’ relief is a capital gains tax (CGT) relief on the disposal of qualifying shares in an unlisted company. A taxpayer making a disposal that qualifies for investors’ relief will pay tax at a rate of 10%.Although it is a separate relief, the rules for investors’ relief were intended as an

23 Jun 2022 10:28 | Produced by Tolley Read more Read more

Corporate interest restriction ― overview

The corporate interest restriction (CIR) essentially limits the amount of interest expense a company can deduct from its taxable profits if the interest expense is over £2 million. The actual mechanics of the CIR calculation are highly complex (the legislation is over 150 pages long) and are

23 Mar 2022 10:32 | Produced by Tolley Read more Read more