HMRC SDLT: SDLTM30200 – Application: Companies: General FA03/S100

Principles and Concepts of SDLTM30200

This section of the HMRC internal manual provides guidance on the application of SDLTM30200, specifically relating to companies under FA03/S100. It outlines key principles and concepts for understanding and applying the legislation effectively.

• Focuses on the application of SDLTM30200 for companies.
• Explains the legislative framework under FA03/S100.
• Provides detailed guidance for HMRC staff.
• Aims to ensure consistent application of tax rules.
• Supports understanding of complex tax legislation.

Understanding Companies and Stamp Duty Land Tax

This section explains what a company is for stamp duty land tax purposes and identifies who is responsible for notifying and paying this tax.

Definition of a Company

A company is any body corporate or unincorporated association. However, this definition does not include:

• Partnerships
• Limited liability partnerships

For additional details on this, refer to SDLTM33000.

Who Signs the Declaration?

The declaration in a land transaction return—either the original or an amended return—must be signed by the proper officer of the company. This is generally the company secretary or another designated officer authorised by the company to carry out this task.

Types of Authority

The authority for a person to sign can be:

• Express Authority: This is clearly stated, often in writing.
• Implied Authority: This is assumed based on the circumstances or the role of the person.
• Apparent Authority: This is perceived by others, based on the actions of the person or company.

What Makes a Return Valid?

In practice, a land transaction return or an amended return will be accepted as valid if it:

• Contains a signature
• Gives no reason to doubt the authority of the person who signed it

This means that the signature of any official or employee from the company can be accepted. This may also include a member of an in-house legal team.

Unincorporated Associations

For unincorporated associations, the proper officer to sign a land transaction return or amended return is usually the treasurer or acting treasurer.

Companies in Liquidation

When a company is undergoing liquidation or is in administration, different rules come into play. In these cases, the return or amended return must be signed by the liquidator or administrator.

It is essential for companies and unincorporated associations to understand these guidelines to ensure compliance with stamp duty land tax regulations. Proper understanding of who is authorised to sign the required documentation can help prevent delays or issues when dealing with land transactions.

For further details and examples, one can refer to relevant sections like SDLTM30200, which provide in-depth explanations and additional information on these topics.

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