Author: Christopher Cox; Richard Woolich
Status: Live on Westlaw UK
Stamp Duty Land Tax is now accompanied with an Autumn Statement 2014 Bulletin. On 4th December 2014 the Autumn Statement reformed the stamp duty rates on residential properties. This Bulletin will explain the recasting of these rates and the implications.
Stamp Duty Land Tax is an increasingly complex tax on which tax and property practitioners, lawyers and accountants frequently need guidance. It is becoming more important in light of the Finance Act 2014 changes, with new rules emerging on penal rates on purchase of houses or flats, GAAR, sub-sales, lease renewals and joint purchases.
This new publication will provide tax practitioners with a comprehensive consideration of SDLT provisions, the rules, the rates, the various reliefs and special rules.
- Explains stamp duty land tax rules, the rates, the various reliefs and the special rules for residential property
- Sets out numerous practical examples to clarify how the law works and what needs to be done in a wide range of situations
- Explains rules for leases, sub-sales, linkage, uncertain prices and options
- Discusses the special rules for residential property including the 15% rate, the six-or more rule, purchases of more than one dwelling, right-to-buy, and leasehold enfranchisement transactions
- Examines how commercial and residential developers can carry out projects SDLT efficiently
- Provides practical examples relating to compliance including returns, payment, interaction with land registration, Stamp Office enquiries, interest and penalties
- Considers anti-avoidance provisions, including Ramsay, the GAAR and Sections 75A-75C Explains how SDLT interacts with other taxes including VAT and capital gains tax
Helping tax practitioners and advisors comply with a multitude of SDLT scenarios, Christopher Cox and Richard Woolwich provide practical examples, including relating to returns, payment, interaction with land registration HMRC enquiries, interest and penalties.