Solicitor accepts rebuke for involvement in £2m SDLT schemes – Legal Futures

‘A solicitor involved in conveyancing transactions that resulted in the non-payment of £2m in stamp duty land tax (SDLT) has accepted a rebuke from the Solicitors Regulation Authority (SRA).’

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Legal Futures, 24th October 2016

Source: www.legalfutures.co.uk

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Wales moves to replace stamp duty with new land transaction tax – The Guardian

Posted September 12th, 2016 in bills, news, stamp duty, taxation, Wales by sally

‘The first new Welsh tax for almost 800 years is to be outlined in a bill expected to be introduced on Monday.’

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The Guardian, 12th September 2016

Source: www.guardian.co.uk

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Stamp duty aftershock triggers rollercoaster ride for conveyancers ahead of Brexit vote – Legal Futures

Posted August 25th, 2016 in conveyancing, news, stamp duty, taxation by sally

‘Conveyancing activity in Q2 followed a rollercoaster journey with transactions jumping by almost a quarter (24%) year-on-year – up from 230,430 to 286,425 – as completions were registered following the rush to beat the Stamp Duty Land Tax (SDLT) changes for buy-to-let properties and second homes on 1 April 2016, according to the latest edition of the Conveyancing Market Tracker from Search Acumen, the search provider.’

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Legal Futures, 25th August 2016

Source: www.legalfutures.co.uk

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Offline conveyancers could face stamp duty penalties – Law Society’s Gazette

‘Solicitors could face penalties for not filing stamp duty returns online, under proposed government reforms to the conveyancing process.’

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Law Society’s Gazette, 15th August 2016

Source: www.lawgazette.co.uk

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Finance & Divorce Update, July 2016 – Family Law week

‘Edward Heaton, Principal Associate and Jane Booth, Associate, both of Mills & Reeve LLP, analyse the news and case law relating to financial remedies and divorce during June 2016.’

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Family Law Week, 15th July 2016

Source: www.familylawweek.co.uk

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Stamp Duty Land Tax – Tanfield Chambers

Posted July 12th, 2016 in enfranchisement, housing, leases, news, stamp duty, taxation by sally

‘Does the 3% second home surcharge apply to statutory lease extensions and enfranchisement under the 1993 and 1967 Acts?’

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Tanfield Chambers, 6th June 2016

Source: www.tanfieldchambers.co.uk

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Divorce settlements open to challenge as lawyers ‘unaware of stamp duty change’ – Daily Telegraph

Posted June 30th, 2016 in appeals, divorce, financial provision, housing, matrimonial home, news, stamp duty by tracey

‘Thousands of divorce settlements could be left open to appeal because the Government’s new stamp duty surcharge is leaving estranged partners unable to buy their own home following a split.’

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Daily Telegraph, 30th June 2016

Source: www.telegraph.co.uk

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Court of Appeal: SDLT not payable by company using Shari’a finance scheme – OUT-LAW.com

‘Project Blue Limited (PBL) was not liable for stamp duty land tax (SDLT) in respect of its acquisition of the former Chelsea Barracks by means of a Shari’a finance scheme, the Court of Appeal has ruled.’

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OUT-LAW.com, 31st May 2016

Source: www.out-law.com

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Ten new laws that come into force in April 2016 – and how they affect you – The Independent

‘April 2016 is a month of big changes for people living and working in the UK. A number of new laws and policies are coming into force, affecting just about everyone from public sector workers to dog owners. Here’s what the new laws could mean for you.’

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The Independent, 3rd April 2016

Source: www.independent.co.uk

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SRA fines firm £2,000 for £2.5m stamp duty avoidance schemes – Legal Futures

Posted October 3rd, 2014 in fines, law firms, news, Solicitors Regulation Authority, stamp duty, tax avoidance by tracey

‘Leading Surrey firm Mundays has been fined £2,000 by the Solicitors Regulation Authority for using stamp duty land tax (SDLT) avoidance schemes which saved clients over £2.5m.’

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Legal Futures, 3rd October 2014

Source: www.legalfutures.co.uk

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Taxman wins fight to close property tax loophole – Daily Telegraph

Posted June 16th, 2014 in appeals, housing, mortgages, news, stamp duty, taxation by sally

‘A High Court ruling has sided with the taxman over legislation introduced last year which aims to stop wealthy property buyers avoid paying tens of thousands of pounds in stamp duty.’

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Daily Telegraph, 13th June 2014

Source: www.telegraph.co.uk

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Rise in rogue lawyers pocketing stamp duty payments – Daily Telegraph

Posted May 9th, 2014 in complaints, fees, legal ombudsman, news, solicitors, stamp duty by sally

‘The Legal Ombudsman has seen a spike in complaints about sloppy legal work around house purchases.’

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Daily Telegraph, 8th May 2014

Source: www.telegraph.co.uk

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DV3 RS Ltd Partnership v Revenue and Customs Comrs – WLR Daily

Posted July 31st, 2013 in law reports, leases, partnerships, sale of land, stamp duty, tax avoidance by sally

DV3 RS Ltd Partnership v Revenue and Customs Comrs [2013] EWCA Civ 907; [2013] WLR (D) 311

“Where a vendor contracted to sell a chargeable interest to a company and the company made a sub-sale to a partnership (of which the company was a member), both contracts being completed at the same time with sequential transfers, the partnership, as taxpayer, acquired a chargeable interest liable to stamp duty land tax.”

WLR Daily, 25th July 2013

Source: www.iclr.co.uk

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Court of Appeal overturns tax tribunals’ findings in favour of SDLT avoidance scheme – OUT-LAW.com

Posted July 31st, 2013 in appeals, leases, news, partnerships, sale of land, stamp duty, tax avoidance, tribunals by sally

“The Court of Appeal has ruled against a stamp duty land tax (SDLT) avoidance scheme involving the interaction of the sub-sale and partnership rules, overturning earlier decisions by the First Tier and Upper Tax Tribunals.”

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OUT-LAW.com, 30th July 2013

Source: www.out-law.com

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Tax tribunal ruling against SDLT avoidance scheme could ensure payment of £135m tax, says HMRC – OUT-LAW.com

Posted July 17th, 2013 in bills, HM Revenue & Customs, news, stamp duty, tax avoidance, tribunals by sally

“A tax tribunal has ruled against a stamp duty land tax (SDLT) avoidance scheme, under which a property developer used a sub-sale and alternative finance scheme to try to avoid paying the tax on the purchase of the Chelsea Barracks in London.”

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OUT-LAW.com, 16th July 2013

Source: www.out-law.com

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The Pollen Estate Trustee Co Ltd v Revenue and Customs Comrs; King’s College London v Same – WLR Daily

The Pollen Estate Trustee Co Ltd v Revenue and Customs Comrs: King’s College London v Same: [2013] EWCA Civ 753;   [2013] WLR (D)  255

“Where a charity contributed to the purchase of a property, to be held on trust for it and other, non-charitable, contributors in proportion to their contributions, the ‘chargeable interest acquired’ by reference to which stamp duty land tax was to be levied under Part 4 of the Finance Act 2003 was the equitable estate collectively acquired by the beneficiaries under the trust. However, paragraph 1(1) of Schedule 8 to the 2003 Act was to be interpreted as exempting the land transaction from charge to the extent of the charity’s interest.”

WLR Daily. 26th June 2013

Source: www.iclr.co.uk

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Stamp duty land tax sub-sale relief scheme failed because a novation was not a transfer of rights, according to Tribunal – OUT-LAW.com

Posted April 10th, 2013 in contracts, news, stamp duty, tax avoidance, tribunals by sally

A scheme to avoid stamp duty land tax (SDLT) on the purchase of a London house, involving a novation of a contract, failed because SDLT sub-sale relief was only available where there was a transfer of rights and a novation was not a transfer of rights, according to a decision of the First Tier Tax Tribunal.

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OUT-LAW.com, 10th April 2013

Source: www.out-law.com

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Changes to stamp duty land tax sub-sale rules will affect commercial transactions, said expert – OUT-LAW.com

Posted December 12th, 2012 in bills, conveyancing, news, rent, stamp duty, tax avoidance by sally

“Changes to the stamp duty land tax (SDLT) sub-sale rules announced as part of the draft Finance Bill ‘will introduce complexity and uncertainty into commercial transactions’ said John Christian, a property tax expert at Pinsent Masons, the law firm behind Out-law.com.”

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OUT-LAW.com, 11th December 2012

Source: www.out-law.com

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Stamp duty land tax avoidance scheme was effective says the Upper Tribunal – OUT-LAW.com

Posted November 9th, 2012 in leases, news, partnerships, stamp duty, tax avoidance by tracey

“A stamp duty land tax (SDLT) avoidance scheme which involved the interaction of the sub-sale and the partnership rules was effective, according to the Upper Tribunal.”

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OUT-LAW.com, 8th November 2012

Source: www.out-law.com

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New rules require the disclosure of stamp duty land tax schemes relating to properties of any value – OUT-LAW.com

Posted November 2nd, 2012 in disclosure, news, regulations, stamp duty, tax avoidance by sally

“Stamp duty land tax (SDLT) schemes relating to residential or non-residential property of any value must be disclosed to HM Revenue & Customs (HMRC) from 1 November under the Disclosure of Tax Avoidance Schemes (DOTAS) rules, as new regulations come into force.”

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OUT-LAW.com, 2nd November 2012

Source: www.out-law.com

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