What is Stamp Duty Land Tax?
Stamp Duty Land is a tax, collected by HM Revenue & Customs on certain types of transactions including property freehold and leasehold transactions. Who pays Stamp Duty? Stamp Duty is payable by the person who is acquiring the property in the case of a freehold purchase or the tenant in the case of a lease being signed When and how does Stamp Duty have to be paid? As part of the transaction process, the solicitor (or licensed conveyancer) handling the transaction for the new occupier will ask the occupier to sign a land transaction return form. The return gives all the information that is needed regarding the property transaction. The solicitor may complete the land transaction return; however the occupier is responsible for ensuring that the details on the land transaction return are accurate. The completed land transaction return, and any payment of Stamp Duty Land Tax due, to the HM Revenue & Customs. As long as they receive the correctly completed land transaction return along with
