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Effective date
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Effective date
Practical Law UK Glossary 3-107-6200
(Approx. 4 pages)
Glossary
Effective date
For the purposes of
stamp duty land tax
(SDLT), except as otherwise provided, the effective date of a land transaction is the date of completion (
section 119, Finance Act 2003
). The effective date may, however, be brought forward where there is substantial performance (
section 44(4)
, Finance Act 2003
). For further information, see
Practice note, SDLT: substantial performance: When is the effective date?
.
For the purposes of
land transaction tax
(LTT), except as otherwise provided, the effective date of a land transaction is the date of completion (
section 71
, Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017
(LTTA 2017)). The effective date may, however, be brought forward where there is substantial performance (
section 10(4)
, LTTA 2017
). For further information, see
Practice note, Welsh LTT: substantial performance: When is the effective date?
.