STAMP DUTY LAND TAX RETURN

Motion Text

That this House believes that the requirement to complete a Land Transaction SDLT 1 Return form for a transfer of real property below the threshold for payment of stamp duty land tax is an unnecessary burden on the taxpayer; notes that the quantum of information required is excessive and contains information irrelevant for the purposes of determining stamp duty land tax liability; and calls on the Government to simplify the form to exclude information not relevant to the determination of stamp duty land tax liability and to exempt transfers below the Stamp Duty Land Tax threshold from the requirement to complete an SDLT 1.