Stamp Taxes Glossary - E

Effective date

Date of completion or settlement of the purchase or date of "substantial performance "of contract , if earlier

Encumbrance

A liability borne by property, for example a lease, mortgage, easement, restrictive covenant, rent charge.

Enquiry period

Period within which HMRC can make enquires into the transaction, normally nine months from filing date of the transaction

Exempt Interest

Any security interest such as a mortgage, A licence to use or occupy land. In England, Wales or Northern Ireland, a tenancy at will and a franchise (a grant for the Crown, for instance, the right to hold a market of fair or the right to take tolls) or manor.

Exempt Transaction

A transaction for no chargeable consideration, Certain leases from Registered Social Landlords ('RSLs') , Certain transactions that are in connection with divorce and certain transactions varying the way property passes on death.

Electronic SDLT 5 certificate

When you file your land transaction return online, your successful submission receipt will now become your SDLT 5 certificate.