S18.11 Transitional Arrangements
Schedule 19 specifies the circumstances in which deeds will remain subject to stamp duty on or after 1 December. The general rule is that a transaction will not be a land transaction unless the effective date of the transaction is on or after the 1st of December. The effective date will generally be the date of completion of the contract. Section 121 of the Act provides that completion in Scotland means, in the case of a lease, when it is signed by the parties or constituted by any other means, or in relation to any other transaction the settlement of that transaction. If the effective date of the transaction is before 1 December 2003 then the deed will not be a SDLT transaction and will require to be stamped. Conversely where the effective date of the transaction is on or after the 1st of December the deed must be accompanied by a Revenue certificate or self-certificate.
Special provisions apply where the transaction is effected in pursuance of a contract concluded before 10 July 2003 and also where the transaction is effected in pursuance of a contract entered into and substantially performed before 1 December 2003 but after 10 July 2003.
Where after the 1st of December the Keeper receives a deed that has been duly stamped or denoted by the Inland Revenue, the deed can be accepted without any further enquiry.
Where after the 1st of December the Keeper receives a deed containing a Finance Act or exempt instrument clause, the Keeper will accept this without enquiry unless:
- it appears from the face of the deed or application that the effective date of the transaction was on or after 1 December 2003 (for instance, in a transfer, where the date of settlement is after December 1 2003), or
- it is unclear from the deed/application when the effective date of the transaction was and there is nothing to suggest it was before 1 December 2003.
Where the position is unclear, Agents have been advised submit a covering note explaining why the application should still be subject to stamp duty.
Registers of Scotland (RoS) seeks to ensure that the information published in the Sasines Manual is up to date and accurate but it may be amended from time to time.
The Manual is an internal document intended for RoS staff only. The information in the Manual does not constitute legal or professional advice and RoS cannot accept any liability for actions arising from its use.
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