Procedure: Duty to deliver a land transaction return FA03/S76: The form
FA03/S76 requires that for every notifiable transaction completed or effectively completed a land transaction return (form SDLT1 or electronic equivalent) must be delivered to HM Revenue & Customs within 30 days of the effective date of the transaction. See SDLTM07550
The return must include a self-assessment of the liability and be accompanied by payment of the Stamp Duty Land Tax (SDLT) due. It must be signed by the purchaser(s). See SDLTM07300
Supplementary land transaction returns (for paper SDLT1), forms SDLT2, 3 and 4, must be completed and submitted in addition to the land transaction return for certain transactions as follows
- if there are more than two purchasers or vendors form SDLT2 must be completed. The term purchaser includes tenant and vendor includes landlord
- where more than one piece of land or property is being sold, form SDLT3 must be completed
- for leases and certain commercial transactions a form SDLT4 must be completed.
Supplies of the land transaction return, guidance notes for completion and supplementary pages can be obtained by calling the HM Revenue & Customs Orderline number 0300 200 3511. The land transaction return contains an individual pre-printed reference number and therefore cannot be photocopied and used for subsequent notifiable transactions. The supplementary pages also may not be copied.
When completed it should be sent, with the appropriate payment of tax, to the central processing office by post to
BT Stamp Duty Land Tax
HM Revenue and Customs
The Stamp Taxes Online service may be used for the electronic submission of forms. The service provides you with an electronic SDLT5 certificate, received shortly after successful submission of the land transaction return. This should be sent to the appropriate land register, with the necessary documents, for registration.
FA03/SCH10/PARA1(1) requires that the return must
- be in the prescribed form
- contain the prescribed information
- include a declaration by the purchaser that the return is, to the best of their knowledge, correct and complete.
Interest is chargeable on unpaid tax from the relevant date until the date of payment under FA03/S87. See SDLTM85900+.
Failure to deliver a land transaction return by the filing date will result in a fixed rate penalty under FA03/SCH10/PARA3 and could result in liability to tax-geared penalties under FA03/SCH10/PARA4. See SDLTM85900.
References to the delivery of a land transaction return are to the delivery of a return which complies with the requirements of FA03/SCH10/PARA1(1).
To comply with these requirements the land transaction return must be received by HM Revenue & Customs by the filing date, see SDLTM00070.