Finance Act 2003, Schedule 10, paragraph 1

Contents of return

SCHEDULE 10 Stamp duty land tax: returns, enquiries, assessments and appeals

1 (1) A land transaction return must—

(a) be in the prescribed form,

(b) contain the prescribed information, and

(c) include a declaration by the purchaser (or each of them) that the return is to the best of his knowledge correct and complete.

[F932 (1A) Sub-paragraph (1)(c) is subject to paragraphs 1A and 1B.F932]

(2) In sub-paragraph (1) “prescribed” means prescribed by regulations made by the Inland Revenue.

(3) The regulations may make different provision for different kinds of return.

(4) Regulations under sub-paragraph (1)(b) may require the provision of information corresponding to any of the particulars formerly required under—

(a) Schedule 2 to the Finance Act 1931 (c. 28) (requirement to deliver particulars of land transactions in Great Britain), or

(b) section 244 of the Finance Act 1994 (c. 9) (corresponding provision for Northern Ireland).

(5) The return is treated as containing any information provided by the purchaser for the purpose of completing the return.

Definitions used in Schedule 10, paragraph 1 1

completed

(5) In this paragraph “substantially performed” and “completed” have the same meanings as in section 44 (contract and conveyance) .

Defined in Sch.17A para.12A(5) · see it in the full Act

Cases considering Schedule 10, paragraph 1 3

The Tower One St George Wharf Limited v The Commissioners for HMRC

[2025] EWCA Civ 1588 · 10 December 2025

The return is made on a declaration that it is correct and complete to the best of the purchaser’s knowledge. This answered the uncertainty argument against the appellant’s construction. (see paras [53]-[54])

BTR Core Fund JPUT v The Commissioners for HMRC

[2026] UKUT 27 (TCC) · 21 January 2026

Requires a land transaction return to be in the prescribed form and contain prescribed information. It forms part of the statutory return machinery used to distinguish the MDR claim from the self-assessment calculation (see para [58](5)).

Redmount Trust Company Limited v The Commissioners for HMRC

[2023] UKUT 68 (TCC) · 16 March 2023Defines

The provision identified the prescribed-form, information and declaration requirements for a land transaction return. The document filed by the appellant complied with those contents requirements (see paras [33]; [41]).

What each judgment says about Schedule 10, paragraph 1 is in the case-law panel in the full Act.

Amendments and notes

1 notes from legislation.gov.uk

Amendments

  1. F932Sch. 10 para. 1(1A) inserted (with effect in accordance with reg. 1 of the amending S.I.) by The Stamp Duty Land Tax (Land Transaction Returns) Regulations 2004 (S.I. 2004/3208), regs. 1, 3(a)