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SDLTM50200 - PROCEDURE: REGISTRATION OF LAND TRANSACTIONS FA03/S79 FA03/S79 provides that no notifiable land transaction, and no document evidencing or effecting such a transaction, can be
registered at * HM Land Registry * Registers of Scotland * the Land Registry of Northern Ireland or the Registry of Deeds for Northern Ireland unless * a Revenue certificate, form SDLT5 or
SDLT5(E), is issued by HM Revenue & Customs evidencing the submission of a duly completed land transaction return. The certificate must accompany the relevant application to enable the
land transaction to be registered at the appropriate registry. All purchasers have a duty to keep and preserve for at least six years after the effective date of the transaction such records
as may be needed to enable them to deliver a correct and complete land transaction return or certificate. FA03/SCH10/PARA9 applies to land transaction returns. These paragraphs provide for
penalties to be charged for any failure to keep records. See SDLTM85900+. HM Revenue & Customs may enquire into any land transaction return by virtue of FA03/SCH10/PARA12 . See
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