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 for certain exchanges of residential property and these are set out at SDLTM21000+.