Stamp Duty Land Tax (SDLT) is generally payable on the purchase or transfer of property or land in the United Kingdom where the amount paid is above a certain threshold, the threshold was recently changed by the government in the hope it would have a positive effect on the housing market.
Also land and property transactions must be notified to the HM Revenue & Customs (HMRC) on a Stamp duty land tax return within a certain time limit, this still applies if there is no tax due on that particular transaction. There are many rules that apply for working out how much SDLT is payable. The calculation - which is based on a value called the 'chargeable consideration'. This can vary on whether the land is non-residential or residential. freehold or leasehold.