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  • Tax Memo - Stamp taxes - Stamp duty land tax - General principles - 90050
    SDLT is a self-assessed tax. The obligations of the tax fall on the purchaser (¶90230); these include notifying HMRC that a transfer has taken place and submitting a self-assessment of the tax liability (known as a “land transaction return”). In practice most people use a solicitor or conveyancer to do this on their behalf. The purchaser is also liable to pay any SDLT due.
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  • Tax Memo - Stamp taxes - Stamp duty land tax - Calculation of the charge - Sale and purchase - Rates of tax - 90310
    The rates of SDLT depend on who is purchasing the land or property and the consideration paid. Scotland and Wales have their own rates of LBTT and LTT which are noted below (¶90325). There are five bases of charge to SDLT: - first time buyers purchasing residential property where the consideration is £500,000 or less pay concessionary rates of SDLT (¶90315); - non-natural persons (such as companies) purchasing residential property, who do not benefit from any of the various exceptions (see below), pay SDLT...
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  • Tax Memo - Stamp taxes - Stamp duty land tax - Annual Tax on Enveloped Dwellings - Summary - 91200
    The Annual Tax on Enveloped Dwellings (ATED) is a tax payable by non-natural persons that own high-value residential property situated in the UK. Detailed guidance from HMRC is available from tiny.cc/tm91200. A non-natural person is: - a company or other corporate body (a company that owns property in its capacity as a trustee of a settlement is not subject to ATED, although the beneficiary may be if it is a non-natural person); - a collective investment vehicle (such as a unit trust or an open-ended investment...
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