Special transactions

Sale and lease back (lease and lease back)

SDLTM16040 If there is a transfer of freehold, or a grant or assignment of a lease (in Scotland, transfer of ownership or the assignation of a tenant's interest under a lease) and a lease back to the vendor there are two transactions and two 'purchasers'. Each purchaser must complete a separate SDLT1 for each transaction, that is one for the transfer of freehold (or the grant or assignment of a lease) and another for the lease back.

Exchange of land

SDLTM04020 If there is an exchange of land, where at least one of the interests in land is a major interest, there are two transactions and two 'purchasers'. Each purchaser must complete a separate SDLT1 for each transaction.

The chargeable consideration for each transaction to be shown at question 10 is the open market value of the interest in land that each purchaser receives as a result of the exchange.

Code 37 only should be shown at question 12 regardless of whether any balancing cash payment was made.

Linked transactions

SDLTM30100 Transactions are 'linked' if they form part of a single scheme, arrangement or series of transactions between the same vendor and purchaser or, in either case, persons connected with them. Sale (or lease) and lease back or an exchange of land will comprise linked transactions only if between connected persons. See notes on SDLT1 question 13.

Multiple acquisitions and complex transactions

SDLTM60215 If six or more properties are being transferred special arrangements may be possible to help keep to a minimum the forms required. If you think these arrangements may be of help in your particular circumstances please contact the Stamp Taxes Helpline before you prepare the return.

They will provide initial advice and may refer you to the. Birmingham Stamp Office, who may suggest you send schedules rather than sending multiple SDLT3's or SDLT4's. The precise form of the schedule will depend on the nature of the interests being acquired and how they should be coded. You should send both paper and electronic copies, to help reduce the time taken to produce the certificates.

We recommend that you liase with the relevant land registry to establish their minimum requirements for any transaction in advance of submitting the return. When 'No' is entered at question 27 of the SDLT1, we will issue a single certificate, supported by a list detailing the properties included in the customer's schedule. Answering 'Yes' at question 27 will result in the production of separate certificates for each property.

Shared ownership lease

SDLTM27020 A scheme to partly buy and partly lease property, usually from a housing association or local authority is known as a 'shared ownership lease'. Over time an increasing share in the property may be acquired. The purchaser elects the way in which stamp duty land tax is calculated and paid.

Detailed guidance on how to make a land transaction return of the grant of a lease of residential property on shared ownership terms and on the acquisition of further interests in the property are not provided in this publication. Instead refer to the stamp duty land tax Manual at SDLTM27080.

Transitional rules

SDLTM49000+ There are special provisions for land transactions effected in pursuance of a contract entered into on or before the date of Royal Assent of Finance Act 2003, i.e. 10 July 2003. For further information contact Stamp Taxes Helpline.