Updated by
MALCOLM GUNN CTA
For updates affecting this Division please see Part I0 Updates
Settlements and other taxes
I5.902 Settlements and stamp taxes
Stamp duty land tax (SDLT) applies in England and Northern Ireland and is payable is payable on transactions involving the acquisition of a chargeable interest in land (situated in the UK) for a consideration1. Specifically, consideration includes the assumption of debt. For a detailed discussion of SDLT and how it applies to land transactions see Sergeant & Sims on Stamp Taxes, [AA1].
When the trustees of a settlement acquire land, the trustees will be regarded as the purchasers for SDLT, therefore all the normal rules regarding notification and payment relate to the responsible trustees.
Chargeable interest in land has a very wide definition2, and includes a beneficial interest in land. However, a beneficial interest in land is not a 'major interest'
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 16:31