Finance Act 2003, section 77

Notifiable transactions

Part 4 Stamp duty land tax

(1)A land transaction is notifiable if it is—

(a)an acquisition of a major interest in land that does not fall within one or more of the exceptions in section 77A,

(b)an acquisition of a chargeable interest other than a major interest in land where there is chargeable consideration in respect of [F265 any part of which tax is chargeable at a rate of more than 0%F265] or would be so chargeable but for a relief,

(c)a land transaction that a person is treated as entering into by virtue of section 44A(3), F266...

(d)a notional land transaction under section 75A [F267 or

(e)a notional or additional land transaction under paragraph 5 of Schedule 2A.F267]

(2)This section has effect subject to—

(a)sections 71A(7) F268..., and

(b)paragraph 30 of Schedule 15.

(3) In this section “relief” does not include an exemption from charge under Schedule 3.

Definitions used in section 77 6

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 acquisition

(b) with the substitution in subsection (5)(b) for “the acquisition” of “the day appointed under paragraph 3(2) of Schedule 22 to the Finance Act 2003” .

Defined in Sch.22 para.3(3) · see it in the full Act
major interest

(1) References in this Part to a “major interest” in land shall be construed as follows.

Defined in s.117(1) · see it in the full Act
land

“land” includes—

(a)

buildings and structures, and

(b)

land covered by water;

Defined in s.121 · see it in the full Act
chargeable interest

(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

(1) In this Part “chargeable interest” means—

(a)an estate, interest, right or power in or over land in England ... or Northern Ireland , or

(b)the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power,

Defined in s.48(1) · see it in the full Act
tax

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

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

Cases considering section 77 4

Giovanni Scatola & Ors v The Commissioners for HMRC

[2025] UKUT 156 (TCC) · 28 May 2025Interprets

Confirms that, for transactions with the relevant effective dates, a notional land transaction under section 75A is expressly a notifiable transaction. (see paras [98], [111], [115])

Michael Brown & Anor v The Commissioners for HMRC

[2024] EWCA Civ 92 · 8 February 2024

Section 77 was used to identify the acquisition as notifiable because it was a freehold acquisition outside the relevant exemption and value threshold. (see paras [28]; [66])

The Pollen Estate Trustee Company Ltd & Anor v Revenue And Customs

[2013] EWCA Civ 753 · 26 June 2013

The court used the notifiability rules to illustrate the implausible consequences of treating a joint purchase as separate acquisitions of undivided shares (see paras [13]; [33]).

What each judgment says about section 77 is in the case-law panel in the full Act.

Amendments and notes

5 notes from legislation.gov.uk

Amendments

  1. F264Ss. 77, 77A substituted for s. 77 (with effect in accordance with s. 94(5) of the amending Act) by Finance Act 2008 (c. 9), s. 94(2)
  2. F265Words in s. 77(1)(b) substituted (with effect in accordance with s. 2(2) of the amending Act) by Stamp Duty Land Tax Act 2015 (c. 1), Sch. para. 9 (with s. 2(3)-(6))
  3. F266Word in s. 77(1) omitted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 39 para. 5(a)
  4. F267S. 77(1)(e) and word inserted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by Finance Act 2013 (c. 29), Sch. 39 para. 5(b)
  5. F268Words in s. 77(2)(a) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 17 (with s. 29(5)(6)); S.I. 2015/637, art. 2