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UK Act of Parliament
2003
United Kingdom
Finance Act 2003, Part 4 (Stamp Duty Land Tax)
At a glance
Enforced by
What's here
37 compliance obligations, 4 practical guides across 3 topics · 2 journeys
Penalty landscape
4 of 37 obligations carry an unlimited fine. 3 carry different penalties and 30 have no criminal penalty — flagged in the list below.
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Any Person 23
- Trader 5
- Director or Officer 1
- Operator 1
- Applicant 1
Plus 6 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
Step-by-step journeys using this legislation
Walkthroughs that take you from a real business situation to compliance.
Fix a customs declaration error or HMRC enquiry
- 1 step
Relevant guidance
Practical guides for businesses affected by this Act, ordered by how closely they engage with it.
Direct — cites this Act
3 guidesSupporting — topic alignment
1 guidesOther Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Any Person also bound by 2338 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
Traders also bound by 826 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 413 duties
- Companies Act 2006 2006 243 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 114 duties
- Insolvency (England and Wales) Rules 2016 2016 62 duties
- Building Societies Act 1986 1986 56 duties
Directors and Officers also bound by 425 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 161 duties
- Companies Act 2006 2006 108 duties
- Insolvency Act 1986 1986 72 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 55 duties
- The Housing Administration (England and Wales) Rules 2018 2018 26 duties
Operators also bound by 730 other Acts (top 5 shown)
- Regulation (EU) No 965/2012 (Air Operations) 2012 138 duties
- Commission Implementing Regulation (EU) 2018/2066 of 19 December 2018 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council and amending Commission Regulation (EU) No 601/2012 (Text with EEA relevance) 2018 121 duties
- Commission Regulation (EU) No 601/2012 of 21 June 2012 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council (Text with EEA relevance) (repealed) 2012 112 duties
- Space Industry Regulations 2021 2021 75 duties
- Regulation (EU) 2016/429 of the European Parliament and of the Council of 9 March 2016 on transmissible animal diseases and amending and repealing certain acts in the area of animal health (‘Animal Health Law’) (Text with EEA relevance) 2016 66 duties
Applicants also bound by 294 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 46 duties
- Human Medicines Regulations 2012 2012 30 duties
- The Land Registration Rules 2003 2003 25 duties
- Value Added Tax Regulations 1995 1995 18 duties
- Space Industry Regulations 2021 2021 14 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Part 1 — Excise duties
Browse 16 other sections in this Part — procedural / definitional / commencement
Rates of tobacco products duty
Rate of duty on beer
Rates of duty on wine and made-wine
Rates of hydrocarbon oil duties
Rebates on hydrocarbon oil duties
General betting duty and pool betting duty: relief for losses
General betting duty: betting exchanges
General betting duty: restriction of exemption for on-course bets
Bingo duty
Amusement machines not operated by coins or tokens
Amusement machines: use of currencies other than sterling
Responsibility for unlicensed amusement machines
Rates of gaming duty
Vehicle excise duty: rates
Disclosure for exemptions: Northern Ireland
Duty at higher rate: exception for tractive units
Part 2 — Value added tax
Browse 7 other sections in this Part — procedural / definitional / commencement
Requirement of evidence or security
Joint and several liability for unpaid VAT of another trader
Face-value vouchers
Supplies arising from prior grant of fee simple
Business gifts
Non-business use of business property
Supply of electronic services in member States: special accounting scheme
Part 3 — Taxes and duties on importation and exportation: penalties
Penalty for evasion
Unlimited fine- Dishonest evasion of Stamp Duty Land Tax Any Person
Review by HMRC
- Notify HMRC of acceptance of a review offer within 30 days Trader
Other duties (1) — Crown / regulator
- HMRC must review a tax decision upon request Statutory regulator
Nature of review etc
Other duties (1) — Crown / regulator
- HMRC must conduct Stamp Duty Land Tax reviews and notify you of the outcome Statutory regulator
Browse 21 other sections in this Part — procedural / definitional / commencement
Introductory
Penalty for contravention of relevant rule
Exceptions from section 26
Liability of directors etc where body corporate liable to penalty for evasion
Reduction of penalty under section 25 or 26
Demands for penalties
Time limits for demands for penalties
No prosecution after demand notice for penalty under section 26
Right to appeal against certain decisions
Offer of review
Extensions of time
Review out of time
Bringing of appeals
Time limit and right to further review
Powers of Commissioners on a review
Appeals to a tribunal
Appeal tribunals
Admissibility of certain statements and documents
Service of notices
Penalties not to be deducted for income tax or corporation tax purposes
Regulations and orders
Part 4 — Stamp duty land tax
Duty to deliver land transaction return
- Submit a Land Transaction Return to HMRC Any Person
Payment of tax
- Pay SDLT by the filing deadline Trader
- Pay Stamp Duty Land Tax (SDLT) by the required deadline Any Person
Interest on penalties
- Pay interest on overdue Stamp Duty Land Tax penalties Any Person
Offence of fraudulent evasion of tax
14 years imprisonment- Knowingly facilitate fraudulent tax evasion Any Person
General provisions about penalties
Unlimited fine- Liability for Stamp Duty Land Tax (SDLT) penalties Any Person
Companies
- Act through a proper officer for all Stamp Duty Land Tax matters Trader
Unit trust schemes
Amended 4 timesJoint purchasers
Amended 6 times- Manage Stamp Duty Land Tax (SDLT) obligations for joint property purchases Any Person
- Submit single SDLT return for joint land purchase Any Person
Partnerships
Amended 1 timePersons acting in a representative capacity etc
Amended 2 timesCrown application
Amended 8 timesLinked transactions
Amended 5 timesGeneral power to vary this Part by regulations
Amended 6 timesApproval of regulations under general power
Amended 3 timesClaim for repayment if regulations under general power not approved
Amended 1 timePower to amend certain provisions before implementation
Amended 1 timeFunctions conferred on “the Inland Revenue”
Amended 2 timesOrders and regulations made by the Treasury or the Inland Revenue
Amended 3 timesGeneral and Special Commissioners, appeals and other proceedings
Amended 1 timeMeaning of “residential property”
Amended 1 timeMeaning of “major interest” in land
Amended 2 timesMeaning of “market value”
Amended 3 timesMeaning of “ effective date ” of a transaction
Amended 7 timesFurther provisions relating to leases
Amended 3 timesMinor definitions
Amended 10 timesIndex of defined expressions
Amended 26 timesBrowse 91 other sections in this Part — procedural / definitional / commencement
The tax
Land transactions
Contract and conveyance
Contract providing for conveyance to third party
Transactions entered into before completion of contract
Contract providing for conveyance to third party: effect of transfer of rights
Options and rights of pre-emption
Exchanges
Chargeable interests
Interests, transactions and consideration where land in England and Wales
Chargeable transactions
Chargeable consideration
Contingent, uncertain or unascertained consideration
Annuities etc: chargeable consideration limited to twelve years' payments
Deemed market value where transaction involves connected company
Exceptions from deemed market value rule
Amount of tax chargeable: general
Amount of tax chargeable: higher rate for certain transactions
Amount of tax chargeable: rent
Disadvantaged areas relief
Sale and leaseback arrangements
First-time buyers
First-time buyers
Relief for certain acquisitions of residential property
Relief for new zero-carbon homes
Relief for new zero-carbon homes: supplemental
Transfers involving multiple dwellings
Compulsory purchase facilitating development
Compliance with planning obligations
Relief for special tax sites
Group relief and reconstruction or acquisition relief
Demutualisation of insurance company
Demutualisation of building society
Initial transfer of assets to trustees of unit trust scheme
Incorporation of limited liability partnership
Seeding relief
Transfers involving public bodies
Resolution of financial institutions
Transfer in consequence of reorganisation of parliamentary constituencies
Acquisitions by certain health service bodies
Charities relief
Acquisition by bodies established for national purposes
Right to buy transactions, shared ownership leases etc
Certain acquisitions by registered providers of social housing etc
Alternative property finance: land sold to financial institution and leased to person
Alternative property finance in Scotland: land sold to financial institution and leased to person
Alternative property finance in Scotland: land sold to financial institution and person in common
Alternative property finance: land sold to financial institution and re-sold to person
Sections 71A to 73: relationship with Schedule 7
Section 71A : arrangements to transfer control of financial institution
Exempt interests
Meaning of “financial institution”
Alternative finance investment bonds
Sections 71A to 73: first-time buyers
Exercise of collective rights by tenants of flats
Crofting community right to buy
Anti-avoidance
Anti-avoidance: incidental transactions
Anti-avoidance: supplemental
Increased rates for non-resident transactions
Notifiable transactions
Exceptions for certain acquisitions of major interests in land
Returns, enquiries, assessments and related matters
Disclosure of information contained in land transaction returns
Registration of land transactions etc
Adjustment where contingency ceases or consideration is ascertained
Further return where relief withdrawn
Return or further return in consequence of later linked transaction
Declaration by person authorised to act on behalf of individual
Alternative finance arrangements: return where relief withdrawn
Loss or destruction of, or damage to, return etc
Claims not included in returns
Formal requirements as to assessments, penalty determinations etc
Delivery and service of documents
Liability for tax
Interest on unpaid tax
Interest on unpaid tax: cases involving Reserved Investor Fund (Contractual Schemes)
Interest on repayment of tax overpaid etc
Application to defer payment in case of contingent or uncertain consideration
Collection and recovery of tax etc
Payment by cheque
Information powers
Power to inspect premises
Penalty for assisting in preparation of incorrect return etc
Power to allow further time and reasonable excuse for failure
Admissibility of evidence not affected by offer of settlement etc
Open-ended investment companies
Co-ownership ... contractual schemes
Trustees
Consequential amendments
Commencement and transitional provisions
Part 5 — Stamp duty
Abolition of stamp duty except on instruments relating to stock or marketable securities
Amended 10 timesCircumstances in which relief for company acquisitions withdrawn
Amended 1 timeExemption of certain leases granted by registered social landlords
Amended 2 timesRelief for certain leases granted before section 128 has effect
Amended 2 timesRegistered social landlords: treatment of certain leases granted between 1st January 1990 and 27 March 2000
Amended 2 timesBrowse 1 other section in this Part — procedural / definitional / commencement
Part 6 — Income tax and corporation tax: charge and rate bands
Charge and rates for 2003-04
Amended 1 timeIndexed rate bands for 2003-04: PAYE deductions etc
Amended 1 timeSmall companies' rate and fraction for financial year 2003
Amended 1 timeBrowse 2 other sections in this Part — procedural / definitional / commencement
Part 7 — Income tax, corporation tax and capital gains tax: general
Taxable benefits: lower threshold for cars with a CO 2 emissions figure
Amended 1 timeCorporation tax relief for employee share acquisitions
Amended 1 timeRestriction of deductions for employee benefit contributions
Amended 1 timePayroll giving: extension of 10% supplement to 5th April 2004
Amended 1 timeSub-contractor deductions etc: interest on late payment or repayment
Amended 1 timeMeaning of “ permanent establishment ”
Amended 7 timesNon-resident companies: basis of charge to corporation tax
Amended 1 timeNon-resident companies: assessment, collection and recovery of corporation tax
Amended 4 timesNon-resident companies: extent of charge to income tax
Amended 4 timesNon-resident companies: transactions carried out through broker, investment manager or Lloyd’s agent
Amended 5 timesGeneral replacement of references to branch or agency of company
Amended 16 timesDouble taxation relief: profits attributable to overseas permanent establishment
Amended 1 timeOverseas life insurance companies
Amended 2 timesTaper relief: assets qualifying as business assets
Amended 1 timeTransfers of value: attribution of gains to beneficiaries
Amended 1 timeExtension of first-year allowances for ICT expenditure by small enterprises
Amended 1 timeExpenditure on software for sub-licensing
Amended 1 timeRelief for research and development
Amended 1 timePolicies of life insurance etc: miscellaneous amendments
Amended 1 timePersonal pension arrangements: limit on contributions
Amended 1 timePayments to adopters
Amended 1 timeFoster carers
Amended 1 timeCurrency contracts and currency options
Amended 1 timeLoan relationships: amendments
Amended 1 timeDerivative contracts: transactions within groups
Amended 1 timeContributions to urban regeneration companies
Amended 1 timeCourt common investment funds
Amended 1 timeIntangible fixed assets: tax avoidance arrangements and related parties
Amended 1 timeBrowse 21 other sections in this Part — procedural / definitional / commencement
Provision of services through intermediary
Exemption where homeworker’s additional expenses met by employer
Approved share plans and schemes
Employee securities and options
Ending of relief for contributions to QUESTS
PAYE on notional payments: reimbursement period
PAYE: regulations and notional payments
Consequential amendments
Life insurance policies and deferred annuity contracts
Application of market value rule in case of exercise of option
Reporting limits and annual exempt amount
Earn-out rights to be treated as securities unless contrary election
Deferred unascertainable consideration: election for treatment of loss
Avoidance affecting proceeds of balancing event
First-year allowances for expenditure on environmentally beneficial plant or machinery
Tonnage tax: extension of capital allowance restrictions on lessors of ships
Insurance companies
Charges under life insurance policies for exceptional risk of disability
Gains on policies of life insurance etc: rate of tax
Repos etc
Relevant discounted securities: withdrawal of relief for costs and losses, etc
Part 8 — Other taxes
Exemption for fuel used in recycling processes
Amended 1 timeCHP exemption to be based on current efficiency
Amended 1 timeSupplies not known to be taxable when made, etc
Amended 1 timeAmendments about registration, payment etc
Amended 1 timeElectricity from renewable sources etc
Amended 2 timesBrowse 5 other sections in this Part — procedural / definitional / commencement
Part 9 — Miscellaneous and supplementary provisions
Companies acquiring their own shares
Amended 4 timesExchange of information between tax authorities of member States
Amended 4 timesArrangements for mutual exchange of tax information
Amended 1 timeSavings income: Community obligations and international arrangements
Amended 1 timeDeduction of tax from interest: recognised clearing houses etc
Amended 1 timeMandatory electronic payment
Amended 9 timesUse of electronic means of payment under other provisions
Amended 2 timesConsequential claims etc
Amended 1 timeAccounts of Consolidated Fund and National Loans Fund
Amended 1 timeBrowse 14 other sections in this Part — procedural / definitional / commencement
Companies in administration
Controlled foreign companies: exempt activities
Application of CFC provisions to Hong Kong and Macao companies
Authorised unit trusts: interest distributions paid gross
Admissibility of evidence not affected by offer of settlement etc
Ordinary accounts and investment accounts
Abolition of accounting requirements relating to investment deposits
Payments for service of national debt
Definition of liabilities and assets of National Loans Fund
Debt Management Account: abolition of borrowing cap
Payments in error from or to National Loans Fund
Interpretation
Repeals
Short title
Schedules
Stamp duty land tax: returns, enquiries, assessments and appeals
Unlimited fine- Fail to deliver SDLT return on time Any Person
- Submit a land transaction return and keep related records Any Person
Stamp duty land tax: record-keeping where transaction is not notifiable
Fine up to £3,000- Fail to keep and preserve required stamp duty land tax records Any Person
Stamp duty land tax: General and Special Commissioners, appeals and other proceedings
- Pay any costs imposed by Commissioners on SDLT decisions Director or Officer
Other duties (1) — Crown / regulator
- Commissioners/Tribunal must determine Stamp Duty Land Tax appeals Tribunal / Court
(1) This paragraph applies where by reason of paragraph 3(7)...
- Do not use the same subsequent property purchase to claim lower SDLT rates on multiple earlier transactions Any Person
(A1) This paragraph applies where co-ownership scheme seeding relief has...
- Maintain genuine diversity of ownership to keep SDLT seeding relief Operator
(1) This paragraph applies where— (a) a lease is granted...
- Elect for special SDLT treatment on qualifying lease purchases Any Person
The duty under paragraph 9 to preserve records may be...
- Keep your SDLT records in any acceptable format Any Person
(1) This paragraph applies if HMRC are required by paragraph...
Other duties (1) — Crown / regulator
- HMRC must review tax decisions within 45 days and notify the appellant Statutory regulator
(1) This paragraph applies in a case where—
Other duties (1) — Crown / regulator
- HMRC must agree to late appeal notice if conditions met Statutory regulator
(1) If it appears to the Inland Revenue—
- Submit a land transaction return if HMRC issues a notice after you miss the filing deadline Any Person
The duty under paragraph 4 to preserve records may be...
- Preserve records of non-notifiable land transactions in any form, subject to HMRC conditions Any Person
(1) A claim must be made in such form as...
- Use HMRC-prescribed forms for SDLT claims with accurate declaration and evidence Applicant
The duty under paragraph 3 to preserve records may be...
- Preserve records for SDLT claims in any approved format Any Person
(1) A person who has been given notice of intention...
- Do not hide, destroy or alter documents once HMRC notifies you of an investigation Any Person
(1) A person commits an offence if the person intentionally—...
Unlimited fine- Tamper with documents required by HMRC order Any Person
Stamp duty on transfers of partnership interests: continued application
- Pay stamp duty on instruments transferring partnership interests Any Person
Stamp duty on transfers of partnership interests: modification
- Pay stamp duty on partnership interest transfers using modified consideration Any Person
(1) This paragraph applies where stamp duty under Part 1...
- Pay stamp duty on partnership interest transfers Any Person
(1) Where a transaction chargeable to stamp duty land tax...
Other duties (1) — Crown / regulator
- HMRC must reduce SDLT by stamp duty paid on pre-implementation contracts Statutory regulator
(1) This paragraph applies where stamp duty under Part 1...
- Apportion consideration and pay stamp duty only on stock or securities Any Person
After paragraph 18 insert— Participation in more than one connected...
- Include anti‑avoidance rules in share incentive plans for connected SIPs Trader
After paragraph 71 insert— Duty to monitor participants in connected...
- Include record-keeping clause in SIP trust instrument Trader
Browse 916 other Schedules — structural / supplementary
Supply of electronic services in member States: VAT special accounting scheme
Stamp duty land tax: amount of tax chargeable: rent
Stamp duty land tax: charities relief
Stamp duty land tax: right to buy, shared ownership leases etc
Stamp duty land tax: partnerships
Stamp duty land tax: consequential amendments
Stamp duty land tax: commencement and transitional provisions
Approved share plans and schemes
Employee securities and options
Non-resident companies: transactions through broker, investment manager or Lloyd’s agent
Permanent establishment etc: consequential amendments
Capital gains tax: reporting limits and annual exempt amount
Transfers of value: attribution of gains to beneficiaries
First-year allowances for expenditure on environmentally beneficial plant or machinery
Foster carers
Loan relationships: amendments
Sale and repurchase of securities etc
Acquisition by company of its own shares
Companies in administration
Repeals
VAT: face-value vouchers
In Part 3 of the Value Added Tax Act 1994...
After Schedule 10 to that Act insert— SCHEDULE 10A Face-value...
In Schedule 6 to the Value Added Tax Act 1994...
The amendments made by this Schedule apply to supplies of...
The Value Added Tax Act 1994 (c. 23) is amended...
After section 3 insert— Supply of electronic services in member...
In Schedule 1 (registration in respect of taxable supplies) in...
After Schedule 3A insert— SCHEDULE 3B Supply of electronic services...
Transactions entered into before completion of contract
(1) This Schedule applies where— (a) a person (“the original...
(1) This paragraph applies where— (a) a land transaction is...
(1) Subject to the following provisions of this paragraph, “...
(1) This paragraph applies where either of the following provisions...
(1) “ The first minimum amount ” means—
(1) In paragraph 12 “ the second minimum amount ”...
(1) This paragraph applies where— (a) a person would, in...
(1) This paragraph applies if— (a) the pre-completion transaction is...
If a transaction is a qualifying subsale in relation to...
(1) Relief may not be claimed— (a) under paragraph 15...
(1) The Treasury may by regulations amend this Schedule, or...
(1) A pre-completion transaction is an “assignment of rights” if...
Section 1122 of CTA 2010 (connected persons) applies for the...
(1) In this Schedule— “ assignment of rights ” has...
The transferee is not regarded as entering into a land...
(1) This paragraph applies if the pre-completion transaction is an...
(1) Where paragraph 4(4) to (6) applies (assignment of rights:...
(1) This paragraph applies where paragraph 5(1) (transferor treated as...
Where the transferee under the assignment of rights referred to...
(1) This paragraph applies where— (a) the pre-completion transaction is...
(1) This paragraph applies where the pre-completion transaction is a...
Stamp duty land tax: transactions exempt from charge
A land transaction is exempt from charge if there is...
(1) The grant of a lease of a dwelling is...
A transaction between one party to a marriage and the...
(1) The acquisition of property by a person in or...
A transaction between one party to a civil partnership and...
(1) A transaction following a person’s death that varies a...
(1) The Treasury may by regulations provide that any description...
Stamp duty land tax: chargeable consideration
(1) The chargeable consideration for a transaction is, except as...
(1) Where the whole or part of the consideration for...
(1) Where the whole or part of the consideration for...
(1) Where a land transaction is entered into by reason...
Where the purchaser agrees to indemnify the vendor in respect...
Where— (a) there is a land transaction that is—
(1) Where— (a) there is a land transaction under which...
Costs borne by the purchaser under section 9(4) of the...
(1) This paragraph applies in any case where arrangements are...
The chargeable consideration for a transaction shall be taken to...
The amount or value of the chargeable consideration for a...
(1) For the purposes of this Part consideration attributable—
(1) This paragraph applies to determine the chargeable consideration where...
In the case of a land transaction giving effect to...
Except as otherwise expressly provided, the value of any chargeable...
(1) Where the chargeable consideration for a land transaction consists...
(1) Where a land transaction would be exempt from charge...
(1) References in this Part to the amount or value...
Stamp duty land tax: higher rate for certain transactions
(1) In this paragraph “ interest in a single dwelling...
(1) Sub-paragraphs (2) to (8) apply to a chargeable transaction...
(1) Where this paragraph applies to a chargeable transaction—
(1) Sub-paragraphs (2) and (3) apply if—
(1) Paragraph 3 does not apply to a chargeable transaction...
(1) In paragraph 5 “ non-qualifying individual ”, in relation...
(1) Paragraph 3 does not apply to a chargeable transaction...
(1) Sub-paragraph (2) applies to a chargeable transaction if the...
(1) Paragraph 3 does not apply to a chargeable transaction...
(1) Paragraph 3 does not apply to a chargeable transaction...
(1) In a case where the person carrying on the...
(1) Paragraph 3 does not apply to a chargeable transaction...
(1) Paragraph 3 does not apply to a chargeable transaction...
Paragraph 3 does not apply to a chargeable transaction so...
(1) Sub-paragraph (2) applies where relief under paragraph 5 has...
(1) This paragraph applies where relief under paragraph 5B (trades...
(1) This paragraph applies where relief under paragraph 5C (financial...
(1) This paragraph applies where relief under paragraph 5CA (acquisition...
(1) This paragraph applies where relief under paragraph 5D (dwellings...
(1) This paragraph applies where relief under paragraph 5EA (acquisition...
(1) This paragraph applies where relief under paragraph 5F (farmhouses)...
(1) This paragraph applies where relief under paragraph 5FA (qualifying...
(1) Sub-paragraphs (2) and (3) apply where the subject-matter of...
(1) This paragraph applies where— (a) section 71A (land sold...
(1) This paragraph applies where section 72A (land in Scotland...
(1) Where paragraph 6A or 6B (“the modifying paragraph”) applies...
(1) This paragraph applies where relief under paragraph 5 (businesses...
(1) The requirement in paragraph 6D(3)(a) does not apply in...
(1) This paragraph applies where relief under paragraph 5B (trades...
(1) This paragraph applies where relief under paragraph 5D (dwellings...
(1) This paragraph applies where relief under paragraph 5F (farmhouses)...
(1) This paragraph applies where relief under paragraph 5FA (qualifying...
(1) This paragraph sets out rules for determining what counts...
(1) The Treasury may by order amend paragraph 7 so...
In this Schedule— “ appurtenant rights ”, in relation to...
Stamp duty land tax: higher rates for additional dwellings and dwellings purchased by companies
(1) In its application for the purpose of determining the...
(1) Sub-paragraph (3) applies in relation to a land transaction...
(1) Sub-paragraph (3) applies where— (a) a person is a...
(1) This paragraph applies where, by reason of paragraph 10...
(1) This paragraph applies in relation to a land transaction...
(1) Sub-paragraph (2) applies in relation to a chargeable transaction...
(1) This paragraph applies in relation to a chargeable transaction...
(1) This paragraph applies where by virtue of an inheritance—...
(1) In the provisions of this Schedule specified in sub-paragraph...
(1) This paragraph sets out rules for determining what counts...
(1) The Treasury may by regulations amend or otherwise modify...
(1) This paragraph explains how to determine whether a chargeable...
(1) A chargeable transaction falls within this paragraph if—
A chargeable transaction falls within this paragraph if—
(1) A chargeable transaction falls within this paragraph if—
(1) A chargeable transaction falls within this paragraph if—
(1) A chargeable transaction falls within this paragraph if—
(1) A chargeable transaction which would (but for this paragraph)...
(1) Sub-paragraph (2) applies in relation to a chargeable transaction...
(1) A chargeable transaction is not a higher rates transaction...
(1) This paragraph applies where— (a) a person (“A”) has...
This Schedule provides for calculating the tax chargeable—
(1) Where a lease is varied so as to increase...
In Scotland any reference in this Part to the term...
For the purposes of this Part “ rent ” does...
(1) Tax is chargeable under this Schedule in respect of...
The net present value (v) of the rent payable over...
(1) For the purposes of this Schedule a single sum...
(1) This paragraph applies where the lease contains provision for...
(1) For the purposes of this Schedule the term of...
(1) For the purposes of this Schedule a lease for...
(1) For the purposes of this Schedule the “temporal discount...
(1) Where in the case of a transaction to which...
(1) This paragraph applies in the case of a transaction...
Stamp duty land tax: disadvantaged areas relief
(1) For the purposes of this Schedule a “disadvantaged area”...
(1) This paragraph applies, where the land situated in a...
(1) References in this Schedule to the “relevant consideration” in...
For the purposes of this Schedule “rent” has the same...
For the purposes of sections 77 and 77A (which specify...
Any regulations made by the Treasury— (a) designating areas as...
This Part of this Schedule applies to a land transaction...
If all the land is non-residential property, the transaction is...
(1) This paragraph applies where all the land is residential...
(1) This paragraph applies, where the land is partly non-residential...
(1) This Part of this Schedule applies to a land...
If all of the land situated in a disadvantaged area...
(1) This paragraph applies where all the land situated in...
Relief for certain acquisitions of residential property
Acquisition by house-building company from individual acquiring new dwelling
Connected companies etc
Withdrawal of relief under this Schedule
Acquisition by property trader from individual acquiring new dwelling
Acquisition by property trader from personal representatives
Acquisition by property trader from individual where chain of transactions breaks down
Acquisition by employer in case of relocation of employment
Acquisition by property trader in case of relocation of employment
Meaning of “dwelling”, “new dwelling” and “the permitted area”
Meaning of “property trader” and “principal”
Meaning of “refurbishment” and “the permitted amount”
Transfers involving multiple dwellings
This Schedule is arranged as follows— (a) paragraph 2 identifies...
(1) This Schedule applies to a chargeable transaction that is—...
(1) A chargeable transaction to which this Schedule applies is...
(1) If relief under this Schedule is claimed for a...
(1) For the purposes of paragraph 4(1)(a), “the tax related...
(1) This paragraph applies if— (a) relief under this Schedule...
(1) This paragraph sets out rules for determining what counts...
Stamp duty land tax: relief for special tax sites
Transaction land
Disposal of interest in part of qualifying land during control period
Cases involving alternative finance arrangements
Power to change the cases in which relief is available
Approval of regulations
Qualifying land
Use of land in a qualifying manner
Connected persons
Exemption
Other relief
Attributing chargeable consideration to land
Withdrawal of relief
The control period
Relief for first-time buyers
(1) Relief may be claimed for a chargeable transaction if...
(1) Where a land transaction (“the main transaction”) is eligible...
(1) This paragraph applies in relation to a land transaction...
In determining who is the purchaser for the purposes of...
If relief is claimed under paragraph 1 or 2 for...
(1) This paragraph applies if— (a) relief is claimed under...
(1) In this Schedule “ first-time buyer ” means an...
In this Schedule “ relevant consideration ” means—
The main subject-matter of a transaction is not a major...
(1) This paragraph sets out rules for determining what counts...
Stamp duty land tax: group relief and reconstruction and acquisition reliefs
(1) A transaction is exempt from charge if the vendor...
(1) Reconstruction or acquisition relief is not withdrawn under paragraph...
(1) Where paragraph 10(4) (change of control of acquiring company...
(1) This paragraph applies where— (a) tax is chargeable under...
(1) The Inland Revenue may serve a notice on a...
(1) Group relief is not available if at the effective...
(1) Arrangements entered into by a joint venture company which,...
(1) Arrangements entered into by a company which, apart from...
(1) Where in the case of a transaction (“the relevant...
(1) Group relief is not withdrawn under paragraph 3 in...
(1) Where, in the case of a transaction (“ the...
(1) Group relief is not withdrawn under paragraph 3 where...
(1) This paragraph applies where— (a) tax is chargeable under...
(1) The Inland Revenue may serve a notice on a...
(1) Where— (a) a company (“the acquiring company”) acquires the...
(1) Where— (a) a company (“the acquiring company”) acquires the...
(1) Where in the case of a transaction (“the relevant...
Seeding relief
(1) A land transaction is exempt from charge if conditions...
(1) A land transaction is exempt from charge if conditions...
(1) In this Part of this Schedule, subject to sub-paragraph...
(1) This paragraph restricts the availability of co-ownership scheme seeding...
(1) Where co-ownership scheme seeding relief has been allowed in...
(1) This paragraph has effect for the purposes of paragraphs...
(1) Where co-ownership scheme seeding relief has been allowed in...
(1) This paragraph applies where— (a) a person (“V”) makes...
(1) This paragraph applies to a transaction (“the relevant transaction”)...
(1) In paragraph 18 “ non-qualifying individual ”, in relation...
(1) This paragraph has effect for the purposes of this...
In this Schedule— a “feeder fund” of a property AIF...
In this Schedule— the “ AIF (Tax) Regulations ” means...
(1) In this Part of this Schedule, subject to sub-paragraph...
(1) This paragraph restricts the availability of PAIF seeding relief...
(1) Where PAIF seeding relief has been allowed in respect...
(1) Where PAIF seeding relief has been allowed in respect...
(1) This paragraph applies where— (a) a person (“V”) makes...
(1) This paragraph applies to a transaction (“the relevant transaction”)...
(1) In paragraph 8 “ non-qualifying individual ”, in relation...
(1) A land transaction is exempt from charge if the...
(1) Where in the case of a transaction (“the relevant...
(1) This paragraph applies where— (a) a land transaction is...
(1) Sub-paragraphs (3) to (5) apply in any case where—...
(1) This paragraph applies where— (a) relief has been given...
(1) This paragraph applies where— (a) a charity (“C”) is...
(1) This Schedule applies in relation to a charitable trust...
(1) In the case of a right to buy transaction—...
(1) An equity-acquisition ... payment under a shared ownership trust,...
Where no election has been made under paragraph 9 in...
For the purpose of determining the amount of tax chargeable...
(1) The chargeable consideration for transactions forming part of a...
(1) The chargeable consideration for transactions forming part of a...
Where— (a) paragraph 4 applies, and (b) relief is claimed...
(1) This paragraph applies where— (a) a shared ownership lease...
(1) This paragraph applies where— (a) a shared ownership trust...
(1) This paragraph applies where— (a) a lease is granted—...
The transfer of the reversion to the lessee or lessees...
(1) This paragraph applies where under a shared ownership lease—...
(1) For the purpose of determining the amount of tax...
(1) This paragraph has effect for the purposes of paragraphs...
(1) The chargeable consideration for a rent to mortgage or...
(1) This paragraph applies where— (a) . . . ....
(1) In this Schedule “ shared ownership trust ” means...
For the purposes of the application of stamp duty land...
(1) This paragraph applies where— (a) a shared ownership trust...
Increased rates for non-resident transactions
This Schedule is arranged as follows— (a) Part 2 explains...
Non-UK control: attribution of rights and powers
Excluded companies
Spouses and civil partners of UK residents
Bare trust acquiring new lease
Purchase by settlement if beneficiary entitled to occupy, or to income from, dwelling
Co-ownership ... contractual schemes
Alternative property finance
Completion of contract previously substantially performed
Completion of land transaction return
Amendment of return where individual becomes UK resident after return delivered
Meaning of “non-resident transaction”
What counts as a dwelling
Interpretation
Power to modify this Schedule
Whether individual “non-resident” in relation to a chargeable transaction
Whether individual “UK resident” in relation to a chargeable transaction: basic rule
Whether individual “UK resident” in relation to a chargeable transaction: special cases
Crown employment
Whether company is “non-resident” in relation to a chargeable transaction
Meaning of “close company”
Non-UK control
(1) A land transaction return must— (a) be in the...
(1) A person who fails to comply with paragraph 9...
(1) The Inland Revenue may enquire into a land transaction...
(1) An enquiry extends to anything contained in the return,...
(1) If the Inland Revenue give notice of enquiry into...
(1) An appeal may be brought against a requirement imposed...
(1) A person who fails to comply with a notice...
(1) If at a time when an enquiry is in...
(1) This paragraph applies if a return is amended under...
(1) At any time when an enquiry is in progress...
(1) Where — (a) the purchaser (or each of them)...
(1) Where — (a) the purchaser (or any of them)...
(1) References in this Part of this Act to the...
(1) The Inland Revenue or the purchaser may withdraw a...
(1) While proceedings on a referral under paragraph 19 are...
(1) The determination of a question referred to the tribunal...
(1) An enquiry under paragraph 12 is completed when the...
(1) The purchaser may apply to the tribunal for a...
(1) If in the case of a chargeable transaction no...
(1) A Revenue determination has effect for enforcement purposes as...
(1) If after a Revenue determination has been made the...
(1) If the Inland Revenue discover as regards a chargeable...
(1) If an amount of tax has been repaid to...
(1) A person who is required to deliver a land...
(1) If the purchaser has delivered a land transaction return...
(1) The general rule is that no assessment may be...
(1) This paragraph applies for the purposes of paragraph 31....
(1) Notice of an assessment must be served on the...
(1) A person who believes he has been assessed to...
(1) This paragraph applies where— (a) a person has paid...
(1) The Commissioners for Her Majesty's Revenue and Customs are...
(1) A claim under paragraph 34 may not be made...
(1) This paragraph applies where an amount is paid, or...
(1) This paragraph applies where— (a) a claim is made...
(1) In paragraph 34(1)(a) the reference to an amount paid...
(1) An appeal may be brought against—
(1) Notice of an appeal under paragraph 35 must be...
(1) This paragraph applies if notice of appeal has been...
(1) Sub-paragraphs (2) and (3) apply if the appellant notifies...
(1) Sub-paragraphs (2) to (6) apply if HMRC notify the...
(1) This paragraph applies in a case where paragraph 36A...
(1) This paragraph applies if HMRC give notice of the...
(1) This paragraph applies if— (a) HMRC have given notice...
(1) This paragraph applies if— (a) HMRC have offered to...
(1) In paragraphs 36A to 36H— (a) “matter in question”...
(1) If, before an appeal under paragraph 35 is determined,...
(1) Where there is an appeal ... under paragraph 35,...
(1) If the appellant has grounds for believing that the...
(1) A purchaser who is required to deliver a land...
(1) If the appellant and the relevant officer of the...
The determination of the tribunal in relation to any proceedings...
(1) In this paragraph any reference to an appeal means...
(1) Where a party to an appeal to the tribunal...
(1) Where the question in any dispute on any appeal...
In this Schedule “ HMRC ” means Her Majesty’s Revenue...
(1) The purchaser may amend a land transaction return given...
(1) The Inland Revenue may amend a land transaction return...
(1) A purchaser who— (a) fraudulently or negligently delivers in...
(1) A purchaser who is required to deliver a land...
Declaration by agent
Declaration by the relevant Official Solicitor
(A1) This paragraph applies where a transaction is not notifiable,...
(1) A person who fails to comply with paragraph 4...
Stamp duty land tax: claims not included in returns
This Schedule applies to a claim under any provision of...
(1) A person who fails to comply with a notice...
(1) An enquiry under paragraph 7 is completed when the...
(1) The claimant may apply to the tribunal for a...
(1) Within 30 days after the date of issue of...
(1) An appeal may be brought against a conclusion stated...
(1) An appeal against a conclusion stated or amendment made...
(1) A person who may wish to make a claim...
(1) The claimant may amend his claim by notice to...
(1) The Inland Revenue may by notice to the claimant...
(1) As soon as practicable after a claim is made,...
(1) The Inland Revenue may enquire into a person’s claim...
(1) If the Inland Revenue give a person a notice...
(1) An appeal may be brought against a requirement imposed...
Stamp duty land tax: collection and recovery of tax
(1) Where tax is due and payable, a collector may...
(1) In England and Wales or Northern Ireland, if a...
(1) In Scotland, where any tax is due and has...
(1) An amount not exceeding £2,000 due and payable by...
(1) Tax due and payable may be sued for and...
Tax may be sued for and recovered from the person...
Stamp duty land tax: information powers
(1) An authorised officer of the Board may by notice...
(1) An officer who gives a notice under paragraph 6...
(1) If, on an application made by an officer of...
(1) A notice under paragraph 11 must—
The person to whom documents are delivered or made available...
(1) Where a person who has stood in relation to...
(1) No notice under paragraph 14 may be given for...
(1) The consent of the appropriate judicial authority is required...
(1) A notice under paragraph 14 must—
The officer to whom documents are delivered in pursuance of...
The provisions of Part 3 of this Schedule have effect...
(1) The consent of the tribunal is required for the...
(1) Part 3 of this Schedule does not apply—
(1) A notice under Part 1 of this Schedule does...
(1) A notice under Part ... 3 of this Schedule...
(1) To comply with a notice under Part ... 3...
(1) A notice under Part 2 of this Schedule does...
(1) A notice under Part ... 3 of this Schedule...
(1) A notice under Part 2 of this Schedule—
(1) This paragraph applies where a notice is given under...
(1) The Board may by notice in writing require a...
A notice under paragraph 28 must— (a) specify or describe...
(1) A notice under paragraph 1 must—
The person to whom documents are delivered, or to whom...
(1) This Part of this Schedule does not apply to...
(1) The appropriate judicial authority may make an order under...
(1) A person is entitled— (a) to notice of the...
(1) This Part of this Schedule does not apply to...
(1) The Inland Revenue may make provision by regulations for...
(1) The Inland Revenue may make provision by regulations as...
Where a document delivered to an officer of the Board...
(1) If a request for permission to be granted access...
(1) An officer who gives a notice under paragraph 1...
(1) A person who fails to comply with an order...
The Inland Revenue may make provision by regulations as to...
Regulations under this Part of this Schedule may contain such...
(1) The appropriate judicial authority, if satisfied on information on...
(1) An offence that involves fraud is for the purposes...
(1) The Board shall not approve an application for a...
The powers conferred by a warrant under this Part of...
(1) An officer of the Board seeking to exercise the...
(1) Nothing in this Part of this Schedule authorises the...
(1) An officer of the Board who removes anything in...
The person to whom documents are delivered, or to whom...
Where anything that has been removed by an officer of...
(1) If a request for permission to be granted access...
(1) Where entry has been made with a warrant under...
(1) An authorised officer of the Board may for the...
(1) The consent of the tribunal is required for the...
(1) A notice under paragraph 6 must—
(1) Where a notice is given to a person under...
Stamp duty land tax: determination of penalties and related appeals
The provisions of this Schedule apply in relation to penalties...
(1) An officer of the Board authorised for the purposes...
(1) After notice has been served of the determination of...
If a person liable to a penalty has died—
(1) An appeal may be made against the determination of...
(1) In addition to any right of appeal on a...
(1) Where in the opinion of the Board the liability...
(1) The following time limits apply in relation to the...
In this Part of this Act a “partnership” means—
Transfer of chargeable interest to a partnership: general
Transfer of chargeable interest to a partnership: chargeable consideration including rent
Transfer of chargeable interest to a partnership: sum of the lower proportions
Election by property-investment partnership to disapply paragraph 10
Transfer of chargeable interest to a partnership consisting wholly of bodies corporate
Transfer ... of interest in property-investment partnership
Exclusion of market rent leases
Partnership interests: application of provisions about exchanges etc.
Transfer of partnership interest pursuant to earlier arrangements
(1) This paragraph applies where— (a) there is a transfer...
Transfer of chargeable interest from a partnership: general
Transfer of chargeable interest from a partnership: chargeable consideration including rent
(1) For the purposes of this Part of this Act—...
Transfer of chargeable interest from a partnership: sum of the lower proportions
Transfer of chargeable interest from a partnership: partnership share attributable to partner
(1) Where this paragraph applies, the partnership share attributable to...
Transfer of chargeable interest from a partnership to a partnership
Transfer of chargeable interest from a partnership consisting wholly of bodies corporate
Application of exemptions and reliefs
Application of disadvantaged areas relief
Application of group relief
Schedule 15 para.27A
Application of charities relief
Acquisition of interest in partnership not chargeable except as specially provided
For the purposes of this Part of this Act a...
Transactions that are not notifiable
Interpretation: partnership property and partnership share
Interpretation: transfer of chargeable interest to a partnership
Interpretation: transfer of interest in a partnership
Interpretation: transfer of chargeable interest from a partnership
Interpretation: market value of leases
Interpretation: connected persons
A partnership is not to be regarded for the purposes...
Interpretation: arrangements
(1) This Part of this Schedule applies to transactions entered...
(1) Anything required or authorised to be done under this...
(1) Where the responsible partners are liable—
(1) Anything required or authorised to be done by or...
Introduction
Stamp duty land tax: trusts and powers
(1) In this Part “settlement” means a trust that is...
Where property is held in trust under the law of...
(1) Subject to sub-paragraph (2), where a person acquires a...
Where persons acquire a chargeable interest as trustees of a...
(1) Where the trustees of a settlement are liable—
(1) A return or self-certificate in relation to a land...
Where a chargeable interest is acquired by virtue of—
Reallocation of trust property as between beneficiaries
Part 1 of the Taxes Management Act 1970 (c. 9)...
(1) The Lord Chancellor may make regulations authorising the Special...
(1) Any power to make regulations under this Schedule is...
(1) The Lord Chancellor may make regulations providing that a...
(1) Where the General or Special Commissioners have jurisdiction in...
(1) An appeal under this Part to the General or...
(1) The Lord Chancellor may make regulations about the number...
(1) The Lord Chancellor may make regulations about the practice...
The Lord Chancellor may make regulations prescribing the consequences of...
The Lord Chancellor may make regulations about—
(1) The Lord Chancellor may make regulations about the following...
Further provisions relating to leases
In this Part “ lease ” means—
(1) In the case of the grant of a lease...
(1) This paragraph applies where the grant of a lease...
(1) Where a lease is assigned, anything that but for...
(1) This paragraph applies where ...— (a) an agreement for...
(1) This paragraph applies, in place of Schedule 2A (transactions...
(1) Where a lease is varied so as to increase...
(1) This paragraph applies if, after the end of the...
Whether an increase in rent is to be regarded for...
(1) Where a lease is varied so as to reduce...
Where a lease is granted in consideration of the surrender...
In the case of an assignment of a lease the...
(1) In the case of the grant, assignment or surrender...
(1) Where, under arrangements made in connection with the grant...
(1) In the application of this Part to Scotland—
In the application of the provisions of this Part to...
(1) This paragraph applies to— (a) a lease for a...
(1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...
(1) For the purposes of this Part (except sections 77...
(1) This paragraph applies where— (a) successive leases are granted...
(1) For the purposes of this Part a single sum...
(1) This paragraph applies to determine the amount of rent...
Where— (a) a lease contains provision under which the rent...
(1) Where the provisions of section 51 (1) and (2)...
(1) This paragraph applies where— (a) A surrenders an existing...
(1) This paragraph applies where— (a) the tenant under a...
In section 1(1) of the Provisional Collection of Taxes Act...
In section 190(4) of the Inheritance Tax Act 1984 (c....
(1) The Income and Corporation Taxes Act 1988 (c. 1)...
In section 178(2) of the Finance Act 1989 (c. 26)...
In section 38(2) of the Taxation of Chargeable Gains Act...
In section 277 of the Income Tax (Earnings and Pensions)...
(1) Subject to the provisions of this Schedule, the provisions...
In this Schedule “contract” includes any agreement.
(1) A transaction is not an SDLT transaction unless the...
(1) Subject to the following provisions of this paragraph, a...
(1) This paragraph applies where a transaction—
Where— (a) a transaction is effected in pursuance of a...
(1) This paragraph applies where section 44 (contract and conveyance)...
(1) Where in the case of a contract that, apart...
(1) In relation to a transaction that is not an...
(1) This paragraph applies where— (a) a contract that apart...
(1) This paragraph applies where— (a) an agreement for a...
(1) This paragraph applies where— (a) an option binding the...
Stamp duty: restriction to instruments relating to stock or marketable securities
(1) Where part of the property referred to in section...
In the enactments relating to stamp duty for “conveyance or...
In section 12 of the Finance Act 1895 (c. 16)...
In section 108 of the Finance Act 1990 (c. 29)...
In paragraph 1(2) of Schedule 13 to the Finance Act...
(1) The Treasury may by regulations make such other amendments...
Schedule 2 to the Income Tax (Earnings and Pensions) Act...
In paragraph 25(3)(a) (limit on contributions under CCS schemes linked...
(1) Paragraph 34 (exercise of options: scheme-related employment ends) is...
(1) Paragraph 42 (withdrawal of approval) is amended as follows....
The Income Tax (Earnings and Pensions) Act 2003 (c. 1)...
(1) Section 524 (no charge in respect of exercise of...
(1) Schedule 4 (approved CSOP schemes) is amended as follows....
(1) In paragraphs 10(2) and (3), 11(3) and (4) and...
(1) Paragraph 30 (withdrawal of approval) is amended as follows....
(1) Section 701(2)(c) (PAYE: exclusions from meaning of “asset”) is...
In paragraph 13 (eligibility of individuals: introduction), for the entry...
In paragraph 14(7) (eligibility to participate dependent on certain requirements...
In paragraph 18 (requirement not to participate in connected SIPs),...
(1) Paragraph 46 (maximum amount of partnership share money deductions)...
In paragraph 47 (minimum amount of deductions)—
Schedule 3 to the Income Tax (Earnings and Pensions) Act...
The Income Tax (Earnings and Pensions) Act 2003 (c. 1)...
(1) For Chapter 5 of Part 7 substitute— Chapter 5...
(1) Section 509 (modification of section 696 where charge on...
(1) For sections 698 and 699 (PAYE: conditional interests in...
(1) For section 700 (PAYE: gains from share options) substitute—...
(1) In section 701(2)(b) (“asset” not to include vouchers or...
(1) Section 702 (meaning of “readily convertible asset”) is amended...
(1) In section 3(1) (structure of employment income Parts), in...
(1) In section 7(6)(b) (employment income), for “(share-related income and...
(1) In section 19(2) (year in which earnings treated as...
(1) In section 32(2) (receipt of non-money earnings), omit the...
(1) For Chapter 1 of Part 7 (and the heading...
(1) In section 63(1) (the benefits code), omit the entries...
(1) In section 64 (relationship between earnings and benefits code),...
(1) Omit Chapter 8 of Part 3.
(1) Omit Chapter 9 of Part 3.
(1) Section 216 (provisions not applicable to lower-paid employments) is...
(1) Section 227(4) (employment income: exemptions) is amended as follows....
(1) Omit section 491 (no charge under Chapter 8 of...
(1) Omit section 494 (no charge on removal of restrictions...
(1) Omit section 495 (approved share incentive plan shares: value...
(1) Omit section 518 (no charge in respect of acquisition...
(1) For Chapter 2 of Part 7 substitute— Chapter 2...
(1) In section 519 (no charge in respect of exercise...
(1) Omit section 520 (approved SAYE option schemes: no charge...
(1) Omit section 523 (no charge in respect of acquisition...
(1) In section 524 (no charge in respect of exercise...
(1) Omit section 525 (approved CSOP schemes: no charge in...
(1) In section 526(4) (charge where approved CSOP scheme option...
(1) Omit section 528 (enterprise management incentives: no charge in...
(1) In section 531(4) (enterprise management incentives: limitation of charge...
(1) In section 532(5) (enterprise management incentives: modified tax consequences...
(1) In section 538 (share conversions excluded for purposes of...
(1) For Chapter 3 of Part 7 substitute— Chapter 3...
(1) In section 540(1) (enterprise management incentives: notional loan provisions...
(1) In section 541 (enterprise management incentives: effect on other...
(1) Part 2 of Schedule 1 (index of defined expressions)...
(1) In paragraph 35 of Schedule 2 (approved share incentive...
(1) In paragraph 42(3) of Schedule 3 (approved SAYE option...
(1) Schedule 5 (enterprise management incentives) is amended as follows....
(1) Schedule 7 (transitionals and savings) is amended as follows....
(1) In section 98 of the Taxes Management Act 1970...
(1) In section 4(4)(a) of— (a) the Social Security Contributions...
The Taxation of Chargeable Gains Act 1992 (c. 12) is...
(1) After Chapter 3 of Part 7 insert— Chapter 3A...
(1) After section 119 insert— Increase in expenditure by reference...
In section 120 (increase in expenditure by reference to tax...
(1) After section 149A insert— Restricted and convertible employment-related securities...
In section 149B (employee incentive schemes: conditional interests in shares),...
(1) In section 288 (interpretation), after subsection (1) insert—
(1) The Social Security Contributions (Share Options) Act 2001 (c....
In section 2(3)(b) (effect of notice under section 1), insert...
(1) Section 3 (special provision for roll-overs) is amended as...
In section 5(2)(c) (interpretation), for “483(1)” substitute “ 477(6) ”....
Schedule 23 to this Act (corporation tax relief for employee...
(1) After Chapter 3A of Part 7 (inserted by paragraph...
(1) Paragraph 1 is amended as follows.
(1) For paragraph 5(2) substitute— (2) Where the shares acquired...
(1) For paragraph 11(2) substitute— (2) Where the shares acquired...
(1) In paragraph 12, for “in exercise of” substitute “...
(1) Paragraph 13 is amended as follows.
(1) For paragraph 14 substitute— Income tax position of the...
(1) Paragraph 15 is amended as follows.
(1) In paragraph 17(1), for “in exercise of” substitute “...
(1) For Part 4 substitute— Part 4 Provisions applying in...
(1) After Part 4 insert— Part 4A Provisions applying in...
(1) After Chapter 3B of Part 7 (inserted by paragraph...
(1) In paragraph 23(2)(a), for “or 22” substitute “ ,...
(1) In paragraph 26 before paragraph (a) insert—
(1) For paragraph 27 substitute— Acquisition of shares pursuant to...
(1) Paragraph 31 is amended as follows.
(1) After Chapter 3C of Part 7 (inserted by paragraph...
(1) For Chapter 4 of Part 7 substitute— Chapter 4...
Corporation tax relief for employee share acquisition
(1) This Schedule provides for corporation tax relief for a...
(1) The relief is given for the accounting period in...
(1) The provisions of this Part of this Schedule apply...
The company whose shares are acquired pursuant to the option...
(1) This paragraph applies where— (a) there is a takeover...
(1) It must be the case that the acquisition of...
(1) The amount of the relief is equal to the...
(1) The amount of the relief is allowed as a...
(1) The relief is given for the accounting period in...
Introduction
Meaning of “restricted shares”
Relief under this Schedule is available only if the requirements...
Income tax position of employee in case of restricted shares
Amount of relief in case of restricted shares
Timing of relief in case of restricted shares
Introduction
Meaning of “convertible shares”
Amount of relief in case of convertible shares
Timing of relief in case of convertible shares
(1) This paragraph applies where— (a) between the time when...
(1) Deductions available under any of the following provisions of...
(1) Where relief under this Schedule is (or, apart from...
For the purposes of this Schedule— (za) “ employment ”...
(1) Where after the employee’s death shares are acquired by...
For the purposes of this Schedule— (a) a company is...
(1) For the purposes of this Schedule a company is...
(1) The business for the purposes of which the award...
In this Schedule— “the Contributions and Benefits Act” means— the...
In this Schedule the following expressions are defined or otherwise...
This Schedule applies to accounting periods of the employing company...
(1) Relief is not available under this Schedule in respect...
(1) The shares acquired must meet the following requirements.
(1) The provisions of this Part of this Schedule apply...
(1) The shares acquired must be shares in—
(1) It must be the case that the employee—
(1) The amount of the relief is equal to the...
(1) The amount of the relief is allowed as a...
Restriction of deductions for employee benefit contributions
(1) This Schedule applies if, in calculating for corporation tax...
(1) In section 43 (Schedule D) and section 44 (investment...
(1) This Schedule has effect in relation to deductions that...
(1) For the purposes of this Schedule qualifying benefits are...
In this Schedule “qualifying expenses”— (a) does not include expenses...
(1) For the purposes of paragraph 1(3)(a) any qualifying benefits...
(1) This paragraph applies where the provision of a qualifying...
Where the calculation referred to in paragraph 1(1) is made...
(1) In the case of a company in relation to...
This Schedule does not apply to any deduction that is...
(1) In this Schedule— “accident benefit scheme” means an employee...
Determination of profits attributable to permanent establishment: supplementary provisions
(1) This Schedule makes provision about transactions carried out on...
(1) In relation to a transaction carried out on behalf...
(1) In relation to an investment transaction carried out on...
(1) The requirements of the 20% rule are—
(1) This paragraph applies where amounts arise or accrue to...
(1) This paragraph applies if— (a) an investment manager carries...
(1) Where a non-resident company is a member of Lloyd’s...
(1) For the purposes of this Schedule a person is...
(1) The Taxes Act 1988 is amended as follows.
(1) The Taxation of Chargeable Gains Act 1992 (c. 12)...
(1) In sections 93 and 93A of the Finance Act...
(1) Section 126 of the Finance Act 1995 (c. 4)...
(1) Section 127 of the Finance Act 1995 (persons not...
In section 128 of the Finance Act 1989 (limit on...
Omit section 129 of the Finance Act 1995 (c. 4)...
In Schedule 15 to the Finance Act 1996 (c. 8)...
In Schedule 15 to the Finance Act 2000 (c. 17)...
After section 3 of the Taxation of Chargeable Gains Act...
(1) In the heading to Schedule 1 to that Act...
(1) Section 3 of the Taxation of Chargeable Gains Act...
(1) Paragraph 1 of Schedule 1 to that Act is...
(1) Paragraph 2 of that Schedule is amended as follows....
In the first column of the Table in section 98...
The amendments in paragraphs 1, 2, 3(2) and (3), 4(2)(a)...
The amendments in paragraphs 3(4), 4(2)(b), (3) and (4)(b) and...
The amendments in paragraphs 4(5), 5(6) and 6 of this...
Schedule 4C to the Taxation of Chargeable Gains Act 1992...
For paragraphs 1 and 2 (introduction and general scheme of...
After paragraph 7 insert— Outstanding section 87/89 gains (1) The amount of outstanding section 87/89 gains of a...
(1) For paragraphs 8 and 9 (attribution of gains to...
(1) Paragraph 6 is amended as follows.
(1) In paragraph 10(1) for “of the transferor settlement, or...
The Capital Allowances Act 2001 (c. 2) is amended as...
In section 39— (a) after “under” insert “ any of...
After section 45G insert— Expenditure on environmentally beneficial plant or...
(1) In section 46(1)— (a) after “under” insert “ any...
In section 52(3), in the Table, after the entries relating...
In the second column of the Table in section 98...
(1) For the purposes of section 45H(2) of the Capital...
Tax relief for expenditure on research and development
Schedule 20 to the Finance Act 2000 (c. 17) (tax...
In paragraph 4 (qualifying expenditure on direct research and development)...
Part 2 of Schedule 12 to the Finance Act 2002...
(1) Paragraph 7 (entitlement to relief under Part 2 of...
(1) Paragraph 7 is also amended as follows.
In paragraph 9 (expenditure on research and development directly undertaken...
After Part 2 of Schedule 12 to the Finance Act...
Parts 3 to 6 of Schedule 12 to the Finance...
(1) Paragraph 11 is amended as follows.
In paragraph 15(1) (refunds of certain payments) omit the word...
(1) Paragraph 17 (which applies certain definitions from Schedule 20...
(1) Paragraph 1 (entitlement to R&D tax relief) is amended...
Schedule 13 to the Finance Act 2002 (tax relief for...
(1) Paragraph 1 (entitlement to relief under the Schedule) is...
In paragraph 3 (qualifying expenditure on direct research and development)...
(1) Paragraph 5(3) (which applies certain definitions in Schedule 20...
In paragraph 9 (relevant expenditure of sub-contractor) for sub-paragraph (3)...
(1) Paragraph 1 is also amended as follows.
In paragraph 3 (qualifying R&D expenditure) for sub-paragraph (4) (the...
(1) In paragraph 5 (staffing costs) sub-paragraph (3) (person partly...
After paragraph 8 (subsidised expenditure) insert— Qualifying expenditure on externally...
(1) Paragraph 10 (treatment of qualifying expenditure on sub-contracted research...
Part 1 of Schedule 12 to the Finance Act 2002...
(1) Paragraph 1 (entitlement to relief under Part 1 of...
Tonnage tax: restrictions on capital allowances for lessors of ships
(1) In Schedule 22 to the Finance Act 2000 (c....
(1) In paragraph 41(4) of that Schedule (the requirement not...
(1) Subject to paragraph 4(2), the amendments made by paragraphs...
(1) This paragraph applies in relation to any lease entered...
In paragraphs 3 and 4 “lease” means any arrangements that...
Insurance companies
(1) For section 82 of the Finance Act 1989 (c....
(1) Section 432E of the Taxes Act 1988 (apportionment of...
(1) In section 804B(7) of the Taxes Act 1988 (double...
(1) In section 76(2B)(b) of the Taxes Act 1988 (expenses...
(1) The Finance Act 1989 is amended as follows.
(1) In the Taxation of Chargeable Gains Act 1992 (c....
(1) In the Taxation of Chargeable Gains Act 1992 (c....
(1) Section 213 of the Taxation of Chargeable Gains Act...
(1) Section 171A of the Taxation of Chargeable Gains Act...
(1) In the Taxes Act 1988, after section 444A insert—...
(1) In the Taxes Act 1988, after section 444AA (inserted...
(1) Section 83 of the Finance Act 1989 (receipts etc...
(1) In the Taxes Act 1988, after section 444AB (inserted...
(1) In the Taxation of Chargeable Gains Act 1992 (c....
(1) In section 431 of the Taxes Act 1988 (interpretative...
(1) Section 442A of the Taxes Act 1988 (investment return...
(1) Section 444A of the Taxes Act 1988 (transfers of...
In section 431(2) of the Taxes Act 1988 (interpretative provisions...
In section 432A(9A) of the Taxes Act 1988 (apportionment of...
In paragraph 4(5) of Schedule 19AA to the Taxes Act...
Paragraphs 25 to 27 have effect in relation to periods...
In section 431(2) of the Taxes Act 1988 (interpretative provisions...
(1) In the Finance Act 1989 (c. 26), after section...
In section 84(2) and (3) of the Finance Act 1989...
In the Finance Act 1989, after section 90 insert— Interpretation...
In the Taxation of Chargeable Gains Act 1992 (c. 12),...
(1) In section 83AA of the Finance Act 1989 (c....
(1) In section 83AB(1)(c) of the Finance Act 1989 (treatment...
(1) In section 88 of the Finance Act 1989 (c....
(1) In section 89(7) of the Finance Act 1989 (which...
(1) In section 76(1) of the Taxes Act 1988 (expenses...
(1) In section 432D of the Taxes Act 1988 (section...
Policies of life insurance etc: miscellaneous amendments
(1) Section 539 of the Taxes Act 1988 (introductory) is...
In section 551 of the Taxes Act 1988, in subsection...
In section 551A of the Taxes Act 1988, in subsection...
(1) Paragraph 7(1) of Schedule 14 to the Finance Act...
In section 539 of the Taxes Act 1988 (introductory) in...
(1) Section 540(2) of the Taxes Act 1988 (maturity not...
(1) The maturity of a policy of life insurance (“the...
After section 539 of the Taxes Act 1988 insert— The...
(1) For the purposes of Chapter 2 of Part 13...
(1) Where— (a) on 9th April 2003 a policy of...
(1) If any death giving rise to benefits under a...
In section 539 of the Taxes Act 1988 (introductory) in...
(1) Section 547 of the Taxes Act 1988 is amended...
(1) Section 547A of the Taxes Act 1988 is amended...
(1) Section 548(1) of the Taxes Act 1988 is amended...
Gains on policies of life insurance etc: rate of tax
(1) Section 1A of the Taxes Act 1988 (application of...
(1) Section 547 of the Taxes Act 1988 is amended...
In section 550(3) of the Taxes Act 1988 (rates of...
In section 699A(4)(b) of the Taxes Act 1988 (sums included...
In section 833(3)(b) of the Taxes Act 1988 (which provides...
(1) This Schedule provides relief on income from the provision...
(1) This paragraph applies to an individual for a year...
The alternative method of calculating profits given in paragraphs 12...
(1) This paragraph applies if— (a) the alternative method of...
(1) This paragraph applies if— (a) the alternative method of...
(1) An individual may elect— (a) for the alternative method...
(1) This paragraph applies to an individual for a year...
(1) Paragraphs 17 to 19 make provision for the application...
(1) This paragraph applies in any case where—
Capital expenditure (“excluded capital expenditure”) which is incurred—
Where a relevant individual incurs excluded capital expenditure in a...
(1) An individual qualifies for relief under this Schedule for...
Expressions which— (a) are used in this Part, and
In this Schedule— “CAA 2001” means the Capital Allowances Act...
(1) For the purposes of this Schedule, receipts are “foster...
(1) In this Schedule, the “provision of foster care” means...
(1) For the purposes of this Schedule, an individual’s “total...
The individual’s limit for a year of assessment is the...
(1) The fixed amount is £10,000. (2) If, in a...
(1) An individual’s amount per child for a year of...
The Treasury may by order amend the amounts for the...
Schedule 9 to the Finance Act 1996 (c. 8) (loan...
(1) Paragraph 2 is amended as follows.
(1) Paragraph 12 is amended as follows.
(1) In paragraph 17, for sub-paragraph (8) (reference to person...
(1) Paragraph 18 is amended as follows.
(1) In Schedule 25 to the Finance Act 2002 (c....
In section 737C of the Taxes Act 1988 (deemed manufactured...
In section 730A of the Taxes Act 1988 (treatment of...
(1) Section 730A of the Taxes Act 1988 (treatment of...
After section 730B of the Taxes Act 1988 insert— Exchange...
(1) Section 737E of the Taxes Act 1988 (power to...
In section 100 of the Finance Act 1996 (c. 8)...
In section 727A(1) of the Taxes Act 1988 (accrued income...
In section 730A(8)(b) of the Taxes Act 1988 (treatment of...
In section 737C(11A) of the Taxes Act 1988 (purposes for...
(1) Paragraph 15 of Schedule 9 to the Finance Act...
In paragraph 15(3)(b) of Schedule 9 to the Finance Act...
(1) Section 737A of the Taxes Act 1988 (deemed manufactured...
In section 730A(6B) of the Taxes Act 1988 (trading loan...
(1) Paragraph 1 has effect in relation to repurchase prices...
In section 737C of the Taxes Act 1988 (deemed manufactured...
In section 727A(1) of the Taxes Act 1988 (accrued income...
In section 730A(1) of the Taxes Act 1988 (treatment of...
In section 731(2D) of the Taxes Act 1988 (provisions about...
In section 737A(1) of the Taxes Act 1988 (deemed manufactured...
In section 737E(8) of the Taxes Act 1988 (power to...
In paragraph 12(4) of Schedule 7AC to the Taxation of...
Relevant discounted securities: withdrawal of relief for costs and losses, etc
(1) In Schedule 13 to the Finance Act 1996 (discounted...
Omit paragraph 2 of that Schedule (income tax relief for...
After paragraph 14 of that Schedule (gilt strips) insert— Strips...
In the definition of “strip” in paragraph 15(1) of that...
(1) In paragraph 6 of that Schedule (trustees and personal...
(1) Subject to sub-paragraph (2)— (a) the amendments made by...
In Schedule 15B to the Taxes Act 1988 (venture capital...
In section 66 of the Finance Act 1986 (c. 41)...
In section 90 of that Act (exemptions from stamp duty...
(1) Section 92 of that Act (stamp duty reserve tax:...
In Schedule 13 to the Finance Act 1999 (c. 16)...
(1) Section 12 of the Taxes Act 1988 (corporation tax:...
(1) Section 108 of the Taxes Management Act 1970 (c....
After section 342 of the Taxes Act 1988 (tax on...
(1) Paragraph 6A of Schedule 9 to the Finance Act...
(1) Subject to sub-paragraph (2), this Schedule has effect in...
Controlled foreign companies: exempt activities
Part 2 of Schedule 25 to the Taxes Act 1988...
(1) Paragraph 6 (meaning of “engaged in exempt activities”) is...
(1) Paragraph 11 (provisions relating to wholesale, distributive, financial or...
After paragraph 11 insert— (1) This paragraph has effect for the interpretation of paragraph...
The repeal in section 442A of the Taxes Act 1988...
The repeal in section 83(8) of the Finance Act 1989...
The repeals in section 87 of the Finance Act 1989,...
The repeal of section 45(5) of the Finance Act 1990...
The repeals in section 213 of the Taxation of Chargeable...
The Schedule inserted in the Taxes Act 1988 as Schedule...
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Official guidance
Authoritative sources published by regulators or government explaining this legislation.
- Licensee Criteria - The North Sea Transition Authority (opens in a new tab) from NSTA Detailed Guidance
- Exploration and production - Onshore - Licensing regime (opens in a new tab) from NSTA Detailed Guidance
- SDLTM29902 - Abolition of MDR: Exchange of contracts on or before 6 March 2024 (opens in a new tab) from HMRC Detailed Guidance
- SDLTM23040 - Reconstruction and acquisition relief restrictions (opens in a new tab) from HMRC Detailed Guidance
- SDLTM23010 - Group relief overview (opens in a new tab) from HMRC Detailed Guidance
- Stamp Duty Land Tax: Abolition of Multiple Dwellings Relief from 1 June 2024 (opens in a new tab) from HMRC Publication
- Stamp Duty Land Tax relief for land or property transactions (opens in a new tab) from HMRC Detailed Guidance
- File land transaction tax (opens in a new tab) Detailed Guidance
- Ltt ldt tax penalties guide (opens in a new tab) Detailed Guidance
- Lbtt penalties submitting or paying late (opens in a new tab) Detailed Guidance
- ... and 8 more
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
HM Revenue & Customs
Tax collection, customs duties, national insurance, tax credits, and enforcement of the National Minimum Wage. Regulates all UK businesses for tax compliance …
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