HMRC SDLT: SDLTM50100 – Procedure: Duty to deliver a land transaction return FA03/S76: The form

Principles and Concepts of SDLTM50100

This section of the HMRC internal manual outlines the procedure for delivering a land transaction return under FA03/S76. It provides guidance on the necessary form and the duty involved in the process.

• Explains the duty to deliver a land transaction return.
• Details the form required for submission.
• Clarifies the legal obligations under FA03/S76.
• Offers procedural guidance for HMRC staff.

Understanding the Duty to Deliver a Land Transaction Return

This guidance explains the process and requirements for delivering a Stamp Duty Land Tax (SDLT) return, as mandated by the Finance Act 2003 (FA03/S76). It covers key dates, forms, and penalties related to land transactions.

Important Filing Deadlines

From 1 March 2019, anyone buying property must complete and submit an SDLT return within 14 days following the day after the sale date. This applies to:

• Transactions effective on or after 1 March 2019
• Transactions effective before 1 March 2019 that become reportable after that date.

For example, if you complete a property purchase on 1 March 2019, your SDLT return must be submitted by 15 March 2019.

Previous Requirements Before 1 March 2019

For transactions that occurred or were completed by 28 February 2019, the filing period for submitting the land transaction return was 30 days from the effective date. If a sale was completed on 28 February 2019, the return should have been submitted by 30 March 2019.

What to Include in the SDLT Return

Your SDLT return must do the following:

• Provide a self-assessment of the tax liability
• Include the payment for the Stamp Duty Land Tax
• Be signed by the purchaser(s)

It’s critical that all information provided is accurate. You must confirm that the return is complete and correct to the best of your knowledge.

Supplementary Forms

In some circumstances, additional forms may need to be filled out alongside the main SDLT return. These include:

• Form SDLT2: Required when there are more than two purchasers or sellers. Remember, in this context, ‘purchaser’ can mean a tenant and ‘vendor’ can refer to a landlord.
• Form SDLT3: Necessary when multiple pieces of land or properties are being sold together.
• Form SDLT4: Needed for leases and certain commercial transactions.

Obtaining the SDLT Return and Additional Information

To get the land transaction return form and supplementary pages, you can call HM Revenue & Customs (HMRC) at 0300 200 3511. Note that each SDLT return comes with a unique reference number, which means it cannot be photocopied for later transactions. The supplementary pages also cannot be duplicated.

Where to Send Your Completed Return

Once completed, the SDLT return, along with the payment, should be mailed to:

BT Stamp Duty Land Tax
HM Revenue and Customs
BX9 1LT

You also have the option to submit your return electronically through the Stamp Taxes Online service. This platform provides an electronic SDLT5 certificate soon after you successfully submit your return.

Required Information for the SDLT Return

According to FA03/SCH10/PARA1(1), your SDLT return must:

• Be in the official form prescribed
• Contain all required information
• Include a declaration confirming the truthfulness and completeness of the return as per the purchaser’s knowledge.

Consequences of Late Payment

If the Stamp Duty is not paid by the relevant date, interest will start accumulating on the unpaid amount until it is fully paid. This is governed by FA03/S87. For more information, see SDLTM85900+.

Penalties for Late Submission

If you fail to submit the SDLT return by its due date, you will incur a fixed rate penalty as outlined in FA03/SCH10/PARA3. Additionally, there could be tax-related penalties as stipulated under FA03/SCH10/PARA4. For further details, refer to SDLTM85900.

Key Takeaway

When discussing compliance, the delivery of the land transaction return needs to meet the standards established by FA03/SCH10/PARA1(1). It is necessary for HMRC to receive your return by the designated filing date to avoid penalties.

In summary, adhering to the above guidelines ensures that the SDLT return is filed accurately and on time, helping you avoid unnecessary fines and complications.

Useful article? You may find it helpful to read the original guidance here: HMRC SDLT: SDLTM50100 – Procedure: Duty to deliver a land transaction return FA03/S76: The form

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