Scope: What is chargeable: Land transactions: Notifiable transactions FA03/S77 & S77A
Most transactions involving the acquisition of a major interest in land for consideration need to be notified to HM Revenue & Customs, unless specifically exempted from charge by virtue of FA03/SCH3 or falling within the provision of FA03/S77A.
See SDLTM00520 for transactions that are specifically exempted.
Notifiable transactions include those where tax is chargeable at the 0% rate (unless the chargeable consideration for that and all linked transactions is not greater than £40,000) and cases where a relief or exemption is claimed which reduces or extinguishes the liability.
Where notification is required a land transaction return must be delivered to HM Revenue & Customs under FA03/S76. See SDLTM6000+.
Examples of notifiable transactions can be found at SDLTM00310a.