Art. 42 — FA 2003: The tax

The tax 42 1 A tax (to be known as “ stamp duty land tax ”) shall be charged in accordance with this Part on land transactions. 2 The tax is chargeable— a whether or not there is any instrument effecting the transaction, b if there is such an instrument, whether or not it is executed in the United Kingdom, and c whether or not any party to the transaction is present, or resident, in the United Kingdom. 3 The tax is under the care and management of the Commissioners of Inland Revenue (referred to in this Part as “ the Board ”).