Stamp duty land tax (SDLT) is a tax on land transactions.  SDLT was designed to replace the 300-year old stamp duty with a bespoke tax providing clarity on land transactions.  The result is a tax which has to incorporate many complex legal concepts into its structure and which has been regularly revised in its relatively short existence.

SDLT is chargeable at the rate of 1%, 3% or 4% on the chargeable consideration paid for an interest in land (provided the relevant threshold is exceeded).  Whilst the rates of tax are relatively low, the nature of property transactions is that they are often high value and therefore SDLT can result in a significant additional transaction cost.

There are a number of potential pitfalls to SDLT which relate to goodwill, exchanges, linked transactions, partnerships, leases, debts on properties transferred and more!

McBrides’ tax team has experience and expertise in navigating the complex SDLT regulations and can help with SDLT compliance and advice.

For more advice on SDLT please contact Terry Baldwin using the enquiry form on the left, or call him on 020 8309 0011.