The following Personal Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Stamp duty land tax (SDLT) is generally payable on the purchase or transfer of property or land in the UK where the amount paid is above a certain threshold. If the consideration is over £40,000, the transaction must be notified to HMRC on an SDLT Return, even though no SDLT may be due.
When it was originally introduced in 2003, 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.
From 1 April 2018, land transaction tax (LTT) applies to land transactions in Wales. For details of LBTT, see Sergeant and Sims on Stamp Taxes AA23–AA34.
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