SDLT is charged on ‘land transactions’.

This is the case regardless of whether there is an instrument effecting the transaction or whether, if there is an instrument, it is executed in the UK or whether any party to the transaction is present or resident in the UK. Stamp duty, however, is a tax on instruments or documents.

(FA 2003, s. 42)

Land transactions

A land transaction is defined as any acquisition of a ‘chargeable interest’ (FA 2003, s. 43). Special rules in FA 2003, s. 4447 override this general definition to identify what is a land transaction in the following situations:

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