Eight Fold Increase in Lease Duty from 1 December 2003

• Author:
• Isobel d'Inverno

From 1 December 2003, stamp duty on property will be replaced by Stamp Duty
Land Tax (SDLT). SDLT is not just a reform of stamp duty, but a
fundamentally new tax. Stamp duty is a tax on documents, but SDLT is a
self-assessed tax on transactions, with its own return form and new enquiry
and assessment powers for the Revenue.

As SDLT is chargeable whether or not there is a document, it will have to be
paid in many cases where stamp duty is not currently chargeable. The scope
of SDLT is also... (161 more words)

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