The motives for holding mansions in companies can range from confidentiality to inheritance rules in other jurisdictions, says Gordon Keenay.
As expected there were a number of measures and announcements relating to SDLT on residential property. These are a key plank in the government’s aim to present the Budget as ensuring that the wealthiest individuals contribute the highest levels of tax. I shall consider in turn the additional rate band the punitive regime for acquiring and keeping high value residences in companies and other anti-avoidance measures.
SDLT rate increases
The 7% rate is simply applied as a further band for residential property where the chargeable consideration exceeds £2m. It is embedded into FA 2003 s 55 Table A: Residential. Table B...
