SDLTM80040 - Compliance: Introduction

The land transaction return

A land transaction return in respect of a chargeable transaction must

• include an assessment of the tax that, on the basis of the information contained in the return, is chargeable in respect of the transaction
• be accompanied by payment of the correct amount of stamp duty land tax chargeable on that land transaction

Non-standard land transaction returns

Relief withdrawn FA03/S81

Where group relief or reconstruction or acquisition relief has been previously claimed on a purchase and subsequently withdrawn, the purchaser must deliver a further land transaction return before the end of the period of 30 days after the date upon which the disqualifying event occurred.

See SDLTM23070.

Adjustment where contingency ceases or consideration is ascertained FA03/S80(2)

If the effect of the new information is that

• a transaction becomes notifiable or chargeable
• additional tax is payable
• tax is payable where none was payable before

a land transaction return is to be delivered within 30 days of the date on which the contingency ceases or the consideration is ascertained.

Application to defer payment FA03/S90

There may be circumstances where following an application to defer payment, a further return will be required where a contingency ceases or consideration is ascertained.

See SDLTM50900.