Stamp Duty Land Tax (SDLT)
Categories: Tax
Long live the quee...er, the Queen. There we go. Queen with a capital Q, of course. Excuse our American-ness, your Majesty.
The Stamp Duty Land Tax (SDLT) is a tax that Brits have to pay to Her Majesty's Revenue and Customers (HMRC...yep, it’s as real as you are) when land and property is purchased. Oh, and it’s due within 30 days of the purchase date. Make it snappy. The rate of tax depends on whether the transaction involves residential, commercial, or mix-use property.
Any way to get out of it? If there’s money exchanging hands for property, the answer is probably no. If the freehold property purchase is less than £40,000, then it's exempt from the tax.
All the rules for things like marriage, divorce, gifts, and inheritance are included in the HMRC rulebook. But hey, the Queen needs that money...for uh...wait, what does she do again? Oh right, be the poster chil...er, grandma...for Britain. Right.
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