Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Stamp Duty Land Tax Manual

HM Revenue & Customs
, see all updates

Scope: What is chargeable: Land transactions: Notifiable transactions FA03/S77: examples

Example 1

The purchase of a residential property for £50,000.

As the chargeable consideration does not exceed £125,000 Stamp Duty Land Tax is chargeable at the 0% rate.

Although no tax is payable the obligation to notify the transaction to HM Revenue & Customs on form SDLT1 remains as the consideration is not less than £40,000.

Example 2

The purchase of a property for £1 where FA03/S53 won’t apply (see SDLTM30220).

No tax is payable and the transaction is not notifiable because of the exemption in FA03/S77(3)(b) for transactions under £40,000.

Example 3

A lease for 999 years is granted for no premium and a peppercorn rent.

The transaction is not notifiable as there is no chargeable consideration.

Example 4

A lease for 999 years is granted for no premium and a £5 annual rent.

As the chargeable consideration is less than £40,000 notification is not required.