stamp duty land tax


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stamp duty land tax (SDLT)

an AD VALOREM tax introduced on 1 December 2003 to replace stamp duty on land transactions. It is much wider in scope than stamp duty and applies on an acquisition, whether or not there is an instrument effecting the transaction. The tax is payable by the purchaser. An acquisition of land is given a very wide meaning so that it includes surrenders and variations of interests. The territorial scope of the tax is limited to land in the UK and the residence of the parties to the transaction is irrelevant.
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A prospective purchaser has asked whether I would agree to sell the paddock separately as this will result in reducing the stamp duty land tax liability payable by him on the purchase of the house.
A senior official from Her Majesty's Revenue & Customs has spent two days working with Warwickshire-based Lodders to see for himself the issues that stamp duty land tax has created both for property lawyers and their clients.
A spokeswoman said: 'The Stamp Duty Land Tax zero- rate threshold has not been updated since 1993, when average house prices stood at pounds 64,000.
"In spring 2015, I will be publishing consultations on the Welsh replacements for stamp duty land tax and landll tax, to prepare the ground for legislation early in the next Assembly term.
We also need a reform of stamp duty land tax thresholds.
A senior official from Her Majesty's Revenue & Customs (HMRC) has spent two days working with Warwickshire law firm Lodders to see for himself the issues that Stamp Duty Land Tax (SDLT) has created both for property lawyers and their clients.
I have inherited a house from my grandmother and have been told I will have to pay stamp duty land tax when the property is transferred from her name to mine.
Stamp Duty Land Tax (SDLT) is still causing problems for developers nearly two years after it was introduced, according to Simon Littlejohns, tax partner at accountants and business advisers PKF (UK) in Birmingham.
A UK Treasury spokeswoman: "Stamp Duty Land Tax (SDLT) is a progressive tax.