Part 4Stamp duty and stamp duty reserve tax

Stamp duty

114 Penalties for late stamping

1

Section 15B of the Stamp Act 1891 (c. 39) (late stamping: penaties) is amended as follows.

2

In subsection (1)—

a

in paragraph (a) (penalty where instrument not stamped within 30 days of execution), after “is executed in the United Kingdom” insert “ or relates to land in the United Kingdom ”;

b

in paragraph (b) (penalty where instrument not stamped within 30 days of instrument being first received in the United Kingdom), after “is executed outside the United Kingdom” insert “ and does not relate to land in the United Kingdom ”.

3

After that subsection insert—

1A

For the purposes of subsection (1) every instrument that (whether or not it also relates to any other transaction) relates to a transaction which to any extent involves land in the United Kingdom is an instrument relating to land in the United Kingdom.

4

This section applies in relation to instruments executed on or after the day on which this Act is passed.