UK Stamp Duty Land Tax (SDLT) is a charge on property transactions and came into effect on 1st December 2003. Stamp Duty Land Tax replaced the old Stamp Duty system which dated back over 300 years.
Stamp Duty taxation is limited to the acquisition of property & land situated in the UK, the boundary being the low water mark of every part of the UK which borders the sea.
UK Stamp Duty Land Tax (SDLT) is payable on all property purchases over a certain purchase price and the charge applies to all purchases of houses, flats, land and buildings.
The rate of tax is a percentage of monitory transaction, the amount being rounded down to the nearest pound.