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Application of basic rules

Where a company acquires the subject matter of a land transaction, it will generally be subject to stamp duty land tax (SDLT) in the same way as other purchasers under FA 2003, s 43, with chargeable consideration being determined by normal SDLT principles including those set out in FA 2003, Sch 4. See the Stamp duty land tax ― basic rules guidance note for further details on the charge to SDLT.

Connected companies

Where the company is connected with the person from whom it acquires its interest in land (whether the vendor is an individual or a company), the consideration is deemed to be no less than the market value of the subject matter of the transaction.

The definition of a connected person for this purpose is provided by CTA 2010, s 1122.

The rule also has effect where a vendor transfers property to a company and some or all of the consideration for that transfer consists of the issue or transfer of shares in a company