Corporation Tax

Stamp duty land tax ― basic rules for companies ― tax rates

Produced by Tolley
  • 22 Dec 2021 16:11

The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Stamp duty land tax ― basic rules for companies ― tax rates
  • Introduction
  • SDLT rates and thresholds ― residential property
  • Temporary relief for residential property ― coronavirus (COVID-19)
  • Residential property purchase 1 July 2021 to 30 September 2021 ― corporate purchaser
  • Residential property purchase 8 July 2020 to 30 June 2021 ― corporate purchaser
  • Residential property purchase from 1 October 2021 onwards ― corporate purchaser
  • Higher rate of SDLT
  • Non-resident surcharge
  • 15% flat rate of SDLT
  • More...

Stamp duty land tax ― basic rules for companies ― tax rates

Introduction

Stamp duty land tax (SDLT) is generally payable on the purchase or transfer of interests in land and buildings in England and Northern Ireland where the amount paid is above a certain threshold. In addition, most of these land and property transactions must be notified to HMRC on an SDLT return (also known as a land transaction return), even if no tax is due. See the SDLT ― administration guidance note for further commentary on notifiable transactions.

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[AA851]). 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[AA2101]. 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 focuses on the SDLT rates that apply to transactions where the purchaser is a company, including changes announced in Budget 2021. For a discussion of the transactions that are chargeable to SDLT, the meaning of chargeable consideration, the meaning of

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

Think Tax.
Think Tolley.

Critical, comprehensive and up-to-date tax information

LEARN MORE LEARN MORE

Popular Articles

Trading losses carried forward

The reform of corporate losses within Finance (No 2) Act 2017 included a mixture of relaxations to the use of losses within the previous regime which applied before 1 April 2017 and also a major restriction (50% for most companies) on the amount of profits after 1 April 2017 that can be covered by

22 Dec 2021 16:11 | Produced by Tolley Read more Read more

Close companies ― overview

Close companies ― overviewMeaning of close companyThe tax rules for close companies are intended to address those companies that are closely controlled (ie by the owners and their families) and therefore could be used to manipulate the tax position of its activities and its investors. Therefore,

17 Nov 2021 13:50 | Produced by Tolley Read more Read more

Change in ownership provisions

Restriction of carry forward and carry back of trading lossesFollowing the extensive changes to the loss carry forward provisions introduced from 1 April 2017, the anti-avoidance rules restricting the offset of trading losses following a change in ownership were tightened up and extended.

19 Oct 2021 08:12 | Produced by Tolley Read more Read more