Where are we now?

SDLT has become increasingly complex. Jo White provides an overview of the rules.

The rules on what level of Stamp Duty Land Tax (SDLT) is payable have become increasingly more complex. What was once seen as a relatively straightforward tax to calculate now means that different people could pay different SDLT charges on the same transaction.

With the introduction of Scottish Land and Buildings Transaction Tax (LBTT) and the Welsh Land Transaction Tax (LTT) depending on where the land transaction takes place you could be under one of three different sets of rules within the UK.

My comments focus on the rules fundamental to property transactions in England and Northern Ireland. This article discusses the basic fundamentals of SDLT. In my next article, I will consider the main considerations for individual purchasers.