SDLTM09955 | SDLT - increased rates for non-resident transactions: Completion of contract previously substantially performed - para 17 Sch 9A FA03

General guidance on contracts and substantial performance can be found at SDLTM07700 onwards.

Where a contract is substantially performed before completion and later completed by a conveyance, both the substantial performance of the contract and the later completion of the same transaction are notifiable transactions for SDLT.

For the purposes of the surcharge, residence will be tested at the date of substantial performance of the contract. Where the later completion of the transaction is itself a chargeable notifiable transaction under section 44(8) FA03, that later transaction will be a non-resident transaction if and only if the substantial performance of the contract was a non-resident transaction.