The Stamp Duty Land Tax (Service of Documents) Regulations 2022
Published 24 June 2022
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Who is likely to be affected
Corporate purchasers of property in England and Northern Ireland liable to Stamp Duty Land Tax (SDLT).
General description of the measure
The purpose of this statutory instrument is to designate the registered office of a company and the address contained within a land transaction return as places of service of documents and notices in addition to the company’s principal place of business.
Policy objective
The proposed change provides HMRC with additional flexibility in respect of the places to which company notices and documents concerning SDLT may be sent.
Background to the measure
This measure has not previously been announced.
Detailed proposal
Operative date
The draft regulations are expected to come into force in Autumn 2022.
Current law
Section 84 FA 2003 contains information relating to the delivery and service of documents.
Proposed revisions
Under the power at section 84(3)(b)(iii), the Regulations will prescribe the registered office of a company and the address contained on a land transaction return as places that notices and documents may be sent to for the purposes of section 7 Interpretation Act 1978.
Summary of impacts
Exchequer impact (£ million)
| 2022 to 2023 | 2023 to 2024 | 2024 to 2025 | 2025 to 2026 | 2026 to 2027 | 2027 to 2028 |
|---|---|---|---|---|---|
| Nil | Nil | Nil | Nil | Nil | Nil |
This measure is not expected to have an Exchequer impact.
Economic impact
This measure is not expected to have any significant economic impacts.
Impact on individuals, households and families
This measure is not expected to have any impact on individuals. This measure is not expected to impact on family formation, stability or breakdown.
Equalities impacts
It is not anticipated that there will be impacts on groups sharing protected characteristics.
Impact on business including civil society organisations
This measure is not expected to have any impact on businesses or civil society organisations. Businesses or civil society organisations will not need to do anything differently compared to what they do now.
Operational impact (£ million) (HMRC or other)
Our analysis has confirmed there are unlikely financial consequences for HMRC as a result of this measure.
Other impacts
Other impacts have been considered and none have been identified.
Monitoring and evaluation
This measure will be monitored through information collected on land transactions returns.
Further advice
If you have any questions about this change, email: [email protected]
Declaration
The Rt Hon Lucy Frazer QC MP, the Financial Secretary to the Treasury, has read this tax information and impact note and is satisfied that, given the available evidence, it represents a reasonable view of the likely costs, benefits and impacts of the measure.