Scope: What is chargeable: Exchanges FA03/S47 and FA03/SCH4/PARA5
Where a transaction involves the exchange of land, then for Stamp Duty Land Tax (SDLT) purposes, this is treated as two separate transactions.
FA03/SCH4/PARA5 sets out the method of calculation of SDLT in cases where consideration is satisfied wholly or partly by entering into a separate transaction as vendor. There is guidance on this at SDLTM04020.
There are special rules and reliefs for certain exchanges of residential property involving house building companies, property traders and employers and these are set out at SDLTM21000+.