Part 4Stamp duty land tax
Returns and other administrative matters
77Notifiable transactions
1
This section specifies what land transactions are notifiable.
2
The grant of a lease is notifiable if—
a
the lease is for a contractual term of seven years or more and is granted for chargeable consideration, or
b
the lease is for a contractual term of less than seven years and either—
i
the chargeable consideration consists or includes a premium in respect of which tax is chargeable at a rate of 1% or higher, or
ii
the chargeable consideration consists of or includes rent in respect of which tax is chargeable at a rate of 1% or higher,
or, in either case, in respect of which tax would be so chargeable but for a relief.
3
Any other acquisition of a major interest in land is notifiable unless it is exempt from charge under Schedule 3.
4
An acquisition of a chargeable interest other than a major interest in land is notifiable if there is chargeable consideration in respect of which tax is chargeable at a rate of 1% or higher, or in respect of which tax would be so chargeable but for a relief.