Scope: who is chargeable: general FA03/S43
It is the purchasers responsibility to fulfil any reporting requirements and pay the tax due.
The purchaser is the person who acquires the subject matter of a land transaction. The identity of the purchaser will depend on the nature of the land transaction. For example
|Grant of lease||Lessee or tenant|
|Surrender of lease||Landlord|
|Grant of rights including easement, servitude or profit a prendre||Person who becomes entitled to the right|
|Variation||Person whose estate, interest or right is benefited or enlarged|
|Making or release of a covenant or condition||Person whose estate, interest or right is benefited or enlarged|
It is the duty of the purchaser, or each of them, to complete and send a land transaction return to HM Revenue & Customs, although it may be done by their agent.
FA03/SCH10/PARA1 states that the land transaction return must include a declaration by the purchaser, or each of them, that the return is to the best of their knowledge correct and complete.
Even if completed by the purchaser’s agent the declaration must be signed by the purchaser.