Complex sentence: Stamp duty land tax (SDLT) is a new tax in land transactions that was introduced by the Finance Act 2003 and largely replaces stamp duty with effect from 1 December, 2003.
Split into simpler sentences: Stamp duty land tax (SDLT) was a new tax in land transactions that was introduced by the Finance Act 2003. It largely replaced stamp duty with effect from 1 December, 2003.