Rise in rogue lawyers pocketing stamp duty payments – Daily Telegraph
‘The Legal Ombudsman has seen a spike in complaints about sloppy legal work around house purchases.’
Daily Telegraph, 8th May 2014
Source: www.telegraph.co.uk
Category: stamp duty
DV3 RS Ltd Partnership v Revenue and Customs Comrs – WLR Daily
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
Court of Appeal overturns tax tribunals’ findings in favour of SDLT avoidance scheme – OUT-LAW.com
“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.”
OUT-LAW.com, 30th July 2013
Source: www.out-law.com
Tax tribunal ruling against SDLT avoidance scheme could ensure payment of £135m tax, says HMRC – OUT-LAW.com
“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.”
OUT-LAW.com, 16th July 2013
Source: www.out-law.com
The Pollen Estate Trustee Co Ltd v Revenue and Customs Comrs; King’s College London v Same – WLR Daily
“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
Stamp duty land tax sub-sale relief scheme failed because a novation was not a transfer of rights, according to Tribunal – OUT-LAW.com
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.
OUT-LAW.com, 10th April 2013
Source: www.out-law.com
Changes to stamp duty land tax sub-sale rules will affect commercial transactions, said expert – OUT-LAW.com
“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.”
OUT-LAW.com, 11th December 2012
Source: www.out-law.com
Stamp duty land tax avoidance scheme was effective says the Upper Tribunal – OUT-LAW.com
“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.”
OUT-LAW.com, 8th November 2012
Source: www.out-law.com
New rules require the disclosure of stamp duty land tax schemes relating to properties of any value – OUT-LAW.com
“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.”
OUT-LAW.com, 2nd November 2012
Source: www.out-law.com
Mirrlees Review recommends “radical” tax reform – OUT-LAW.com
“Stamp duty on property transactions is ‘inefficient and damaging’ and should be abolished, while VAT should be levied on financial services business and income tax merged with national insurance, an independent report on taxation in the UK has claimed.”
OUT-LAW.com, 14th September 2011
Source: www.out-law.com
Treasury faces £5bn bill over European tax ruling – The Guardian”
“European court judgment over UK tax on firms that issue new shares abroad could be costly for British government.”
The Guardian, 1st October 2009
Source: www.guardian.co.uk
Guardian serves its defence on supermarket chain Tesco – The Guardian
“The Guardian yesterday made a formal offer of amends to the supermarket chain Tesco over reports which had claimed that the company had set up an elaborate complex of offshore companies to avoid paying up to £1bn of corporation tax on a series of property deals. But the newspaper made it clear that it would strenuously defend a malicious falsehood claim by the company.”
The Guardian, 17th May 2008
Source: www.guardian.co.uk
Chancellor Alistair Darling to close loophole in finance deals based on Sharia – The Times
“The Chancellor is expected next week to close a loophole in Sharia finance rules that have allowed commercial property investors to avoid paying stamp duty on more than £1 billion of deals, The Times has learnt.”
The Times, 5th March 2008
Source: www.timesonline.co.uk
