Finance Act 2003, section 42

The tax

Part 4 Stamp duty land tax

(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”).

Definitions used in section 42 3

tax

“tax”, unless the context otherwise requires, means tax under this Part.

Defined in s.121 · see it in the full Act
land transaction

(1) In this Part a “land transaction” means any acquisition of a chargeable interest. As to the meaning of “chargeable interest” see section 48.

Defined in s.43(1) · see it in the full Act
the Inland Revenue

(1) References in this Part to “the Inland Revenue” are to any officer of the Board, except as otherwise provided.

Defined in s.113(1) · see it in the full Act

Cases considering section 42 11

Project Blue Limited v Commissioners for Her Majesty’s Revenue and Customs

[2018] UKSC 30 · 13 June 2018Defines

Defines stamp duty land tax as a tax on land transactions. (see para [10])

Christian Peter Candy v The Commissioners for HMRC

[2022] EWCA Civ 1447 · 3 November 2022Defines

Section 42(1) was used to identify SDLT as a self-assessed charge on land transactions (see para [7]). Cited only.

Project Blue Ltd v Revenue and Customs

[2016] EWCA Civ 485 · 26 May 2016

The charge attaches to land transactions. The Court used section 42(1), with section 43, as the starting point for identifying the relevant acquisitions. (see paras [5], [9]) The SDLT charge applies whether or not an instrument effects the transaction. The Court used this to distinguish SDLT from stamp duty. (see para [5])

What each judgment says about section 42 is in the case-law panel in the full Act.

Amendments and notes

1 notes from legislation.gov.uk

Commencement

  1. I15Pt. 4 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)