A transfer of a freehold property in England is a notifiable transaction for SDLT purposes unless the price paid for the property is less than:

• A. £125,000
• B. £50,000
• C. £0
• D. £40,000

Answer: (D)

Notifiable transactions under SDLT are those that require you to file a SDLT return with HMRC. For transfers of a freehold property in England, there is a de minimis threshold: if the price paid is less than £40,000, the transaction is not notifiable, so no SDLT return is due. This means the threshold to trigger notification is £40,000 or more. The idea is administrative efficiency—very small transfers don’t need the SDLT paperwork, even though tax rules and rates would apply separately if applicable. For example, a transfer at £39,999 wouldn’t require a SDLT return, while a transfer at £40,000 or more would require notification, regardless of the exact tax payable.