Realisation and Stamp duty land tax: Difference between pages

Revision as of 10:31, 9 November 2018

(SDLT).

UK tax.

Duty payable in England and Northern Ireland on the purchase or transfer of a chargeable interest in land or property.

In Scotland, the equivalent tax is Land and Buildings Transaction Tax.

In Wales, the equivalent tax is Land Transaction Tax.

Often known colloquially as 'stamp duty'.

@@ Line 1: / Line 1: @@
-. ''Financial reporting''.
+(SDLT).
-The realisation concept in financial reporting requires that certain key events should have taken place before income and expenditure are recognised in the financial statements at the reporting date.
+''UK tax.''
-Cash does not necessarily have to have been received or paid by the reporting date, but risks and rewards of ownership have to have been transferred.
+Duty payable in England and Northern Ireland on the purchase or transfer of a chargeable interest in land or property.
+In Scotland, the equivalent tax is Land and Buildings Transaction Tax.
-. In other contexts, 'realisation' generally refers to the conversion of assets, profits or liabilities into cash.
+In Wales, the equivalent tax is Land Transaction Tax.
+Often known colloquially as 'stamp duty'.
 == See also ==
-*[[Unrealised profit]]
+* [[Duty]]
+* [[Stamp duty]]
+* [[Stamp duty reserve tax]]
+[[Category:Accounting,_tax_and_regulation]]