SDLTM62030 | Processing: Further guidance for completing forms SDLT1, SDLT3 and SDLT4: Transactions that do not need to be notified

Exceptions for certain acquisitions of major interests in land

An acquisition (other than the grant, assignment or surrender of a lease) where total chargeable consideration (including any linked transactions) is below £40,000.

Lease originally granted for a term of seven years or more where:

• Relevant rent is under £1,000 and

• any chargeable consideration other than rent is under £40,000.
  
  Assignment or surrender of such a lease where:

• Lease originally granted for a term of seven years or more, and

• Chargeable consideration for the assignment or surrender below £40,000.
  
  Lease originally granted for a term of less than seven years where the chargeable consideration does not exceed the zero rate threshold.
  
  The assignment or surrender of a lease where:

• The lease was originally granted for a term of less than seven years, and

• Chargeable consideration does not exceed the zero rate threshold
  
  Transactions ‘exempt’ under Schedule 3 of the Finance Act 2003

• No chargeable consideration for the transaction

• Some leases granted by registered social landlords

• Some transactions connected with the break-up of a marriage or civil partnership

• Some transactions after death

• Some variations of testamentary dispositions.
  
  Alternative property finance
  
  ‘Further transactions’ that are exempt under section 71A(4) of the Finance Act 2003 (see also section 71A(7)).
  
  Transfer of partnership interest
  
  Transfers under paragraphs 14 or 17 of Schedule 15 to the Finance Act 2003 where consideration does not exceed the zero rate threshold.
  
  Land Transaction that is not a major interest
  
  All acquisitions where consideration does not exceed the zero rate threshold.
  
  Please note all reliefs must be claimed on the Land Transaction Return, form SDLT1, even if that relief means that the SDLT chargeable is reduced to nil.