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