Adam Craggs reports on a sub-sale case in which the Supreme Court allowed HMRC’s appeal ‘The court concluded that the combined effect of sub-sale relief under s45 and alternative property finance relief under s71A would have resulted in the transactions escaping SDLT, but for the anti-avoidance rule in s75A.’ In Project Blue Ltd v HMRC …
Continue reading "SDLT: No question of motive"
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Marilyn McKeever explains common issues that arise for trustees when dealing with land ‘An individual will be subject to the higher rates if they already own a residential property on the day when they acquire one or more additional properties.‘ In the current political and economic climate, trustees have a lot to think about. Despite …
Continue reading "SDLT: A solid investment?"
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The stamp duty surcharge of 3% on second homes and buy-to-let properties is choking the market, and requires reform, argues Justin Neal ‘The time has come to stop playing with stamp duty and shared ownership, which has minimal benefit in the long run for the majority, and instead focus on freeing up the stagnated market.’ …
Continue reading "SDLT: Raising the roof"
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Alastair Morrison and Rose-Anna Higgins consider the details of the increased stamp duty land tax burden for buyers and their advisers ‘The method of calculating stamp duty land tax (SDLT) where the new rules apply to any one or more of linked transactions has changed, owing to the move from a slab to a slice …
Continue reading "Budget 2016: What’s new?"
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Duncan Bailey and David McGurnaghan examine the impact of the SDLT changes for private clients ‘The higher rates of SDLT will apply to individuals who are purchasing additional residential properties (such as second homes and buy-to-let properties) where exchange of contracts took place after 25 November 2015 and completion is effected on or after 1 …
Continue reading "Sdlt: Taxing times ahead"
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Wills & Trusts Law Reports | November 2013 #134The Pollen Estate Trustee Company (PETCL) held various London properties on trust for the beneficiaries of the Pollen Estate Trust (PET). Two of the beneficiaries of the PET were charities, being the Church Commissioners and Greenwich Hospital. From time to time PETCL bought and sold property. The appeal concerned four properties bought by PETCL on behalf of the PET between 2006 and 2008.
KCL is a charity. It operates a shared equity scheme under which it participates in the acquisition of homes for its employees in return for a share in the equity in the property proportionate to...
With HMRC’s attentions focused on sub-sale arrangements, Lee Nuttall reviews the findings of the recent decision DV3 ‘SDLT is a modernised form of stamp duty, but also borrowed heavily from stamp duty concepts. It attempted to counter some of the more blatant planning found in stamp duty (for example, “resting on contract” schemes).’Stamp duty land …
Continue reading "SDLT: Sub-sales in the spotlight"
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