News
SDLT - a shot across the bows?
Posted on: 08 June 2010
HMRC has published a new Spotlight article "Stamp Duty Land Tax avoidance", in which it signals its intention to challenge contrived commercial and residential property sales transactions.
HMRC is looking at arrangements which seek to reduce the price of a property for SDLT purposes, for example by introducing an intermediate sale in order to exploit sub-sale relief.
HMRC now intends to actively challenge such schemes, through the courts where appropriate, so taxpayers and advisers need to exercise great caution before entering into any such arrangements, and in particular marketed 'shrink-wrapped' schemes.
Please contact Jeff Webber to discuss this development, or any other SDLT matter.
