Stamp Duty Land Tax (SDLT) Technical News

Issue 4 - March 2007

Contents

• SDLT changes included in the Pre Budget Report
  Details of the measures included in the Pre Budget Report on 6 December 2006.
• The Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006: interim guidance on section 75A Finance Act 2003
  Interim guidance on new section 75A Finance Act 2003, inserted by paragraph 1 of the Schedule to The Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006.
• Group Relief 'Arrangements'
  The availability of group relief in relation to transactions carried out in preparation for an acquisition to which section 75 Finance Act 1986 (acquisition relief) will apply.
• Stamp Duty Land Tax: Finality and 'Discovery'
  Circumstances under which we can make a ’discovery’ assessment.
• Legislation governing payment of SDLT
  SDLT legislation requires any payment due to be made at the same time as the SDLT Return is delivered.
• When an SDLT1 needs to be submitted where an agreement or contract previously notified because of ‘’substantial performance’’ needs to be notified again on ‘’completion’’
  Clarification to the article included in Issue 1.
• Lease transactions for seven years or more with no chargeable consideration
  When a letter of explanation should be sent to the Land Registry with the SDLT60 self-certification form.
• Changes to backdating on renewal leases
  Guidance on how to use SDLT Lease Calculator & the SDLT Online Service for renewals of lease transactions
• Previous issues of the SDLT Technical Newsletter
  How to obtain previous issues of this publication.
• Quick Links
  Stamp Taxes welcome page.