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StatuteFinance Act 2003

Section 42 — Finance Act 2003: The tax

Text of the provision Official document

The tax 42 1 A tax (to be known as “ stamp duty land tax ”) shall be charged in accordance with this Part on land transactions.

2 The tax is chargeable—

a whether or not there is any instrument effecting the transaction, b if there is such an instrument, whether or not it is executed in the United Kingdom, and c whether or not any party to the transaction is present, or resident, in the United Kingdom.

3 The tax is under the care and management of the Commissioners of Inland Revenue (referred to in this Part as “ the Board ”).

Official source: legislation.gov.uk

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Statutory text from an official public source. Informational content — does not replace advice from a qualified solicitor.