SDLTM21580 - Registration of interest in land
FA03/S79 prevents the registration of land acquired in most notifiable land transactions unless the person applying to have their interest registered produces a certificate (in practice the SDLT5) showing they have met their SDLT obligations.
In a subsale, there will generally be two transfers of the land: A to B and B to C.
If B wishes to register its interest in the land, it will need to produce an SDLT5 together with its application for registration and the transfer from A to B, in the normal way.
If B does not wish to register its interest in the land, C will need to produce C바카라 사이트™s SDLT5, its application for registration and the transfers from A to B and B to C. With its application for registration, C should also either:
- confirm in writing that B acquired the land from A and transferred it to C in pursuance of a 바카라 사이트˜free-standing transfer바카라 사이트™ for the purposes of Schedule 2A to the Finance Act 2003, or
- produce written confirmation from B (or B바카라 사이트™s agent) that B acquired the land from A and transferred it to C in pursuance of a 바카라 사이트˜free-standing transfer바카라 사이트™ for the purposes of Schedule 2A to the Finance Act 2003.
If there is only one transfer of the land - A to C - then C will only need to produce its SDLT5, its application for registration and the transfer from A to C.
In an assignment of rights, there will be just one transfer of the land: A to C. In this case, C can register its interest in the normal way. Although the notional land transaction between A and B is notifiable for SDLT purposes, FA03/S79 does not apply to the notional transaction. There is no need for a letter confirming an assignment of rights. Only C바카라 사이트™s SDLT5 is needed.