Introduction to stamp taxes

Produced by Tolley in association with

Corporation Tax

Guidance

There are a five UK stamp taxes which apply to transactions involving UK land and buildings, stocks and marketable securities and partnership interests. The five stamp taxes are:

•
stamp duty land tax (SDLT), applying to transactions in land and buildings in England and Northern Ireland
•
land and buildings transactions tax (LBTT), applying to transactions in land and buildings situated in Scotland
•
land transaction tax (LTT), applying to transactions in land and buildings situated in Wales
•
stamp duty applying to instruments (for example, a stock transfer form) that transfer UK shares and certain other types of stocks and securities
•
stamp duty reserve tax (SDRT) applying to electronic (or paperless) transfers of UK shares and certain other securities

In addition, there is separate property tax known as the annual tax on enveloped dwellings (ATED) which should be considered along with the SDLT (or LBTT/ LTT) consequences of the acquisition of residential property. Broadly, ATED applies to the acquisition of certain UK dwellings worth more than £500,000 by companies and other types of

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Sean Randall

Partner at Blick Rothenberg , Corporate Tax

20 years’ “Big Four” stamp duty experience, including building and running KPMG’s UK stamp duty team for five years Chair of the professional body for stamp duty advisers, the Stamp Taxes Practitioners Group (over 200 members) Editor and author of Sergeant and Sims on Stamp Taxes since 2008 Former Tax Writer of the Year Author of the Law Society’s SDLT Handbook: A Guide for Residential Conveyancers Fellow of the Chartered Institute of Taxation Barrister (non-practising) Listed in Spear’s 500

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