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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 purchasing residential property, which does not benefit from any of the various exceptions, and which is purchased for consideration...
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  • Tax Memo - Stamp taxes - Stamp duty land tax - Calculation of the charge - Annual Tax on Enveloped Dwellings - Summary - 90640
    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 may be found by following this link: tiny.cc/tm90640. 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...
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