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