Stamp Duty Land Tax on the Transfer Ownership of Land or Property
Stamp Duty Land Tax (SDLT) is a tax levied on the purchase of property or land in England and Northern Ireland. It is important for UK taxpayers to understand the intricacies of SDLT, especially when transferring ownership of land or property. This tax is applicable when all or part of an interest in land or property is transferred and monetary consideration is given in exchange. In this part, we will explore the basics of SDLT, its thresholds, and examples of when SDLT is payable.