When it comes to trusts, is it the trustees or the beneficiaries who are treated as the purchaser for SDLT purposes? Simon Howley (Bell Howley Perrotton) provides a refresher guide.
This article examines the interaction of trusts and SDLT which is often not well understood. The distinction between legal and beneficial ownership of trust property and the type of trust involved whether it be a bare trust life-interest trust or discretionary trust can have a significant impact on the amount of SDLT payable. Given the common use of trusts in property purchasing structures both in the UK and historically overseas it is important to understand the key issues so that advisers do not fall foul of any pitfalls understand who is liable for the SDLT and also when to consider FA 2003 s 75A. All legislative references in this article relate to FA...
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When it comes to trusts, is it the trustees or the beneficiaries who are treated as the purchaser for SDLT purposes? Simon Howley (Bell Howley Perrotton) provides a refresher guide.
This article examines the interaction of trusts and SDLT which is often not well understood. The distinction between legal and beneficial ownership of trust property and the type of trust involved whether it be a bare trust life-interest trust or discretionary trust can have a significant impact on the amount of SDLT payable. Given the common use of trusts in property purchasing structures both in the UK and historically overseas it is important to understand the key issues so that advisers do not fall foul of any pitfalls understand who is liable for the SDLT and also when to consider FA 2003 s 75A. All legislative references in this article relate to FA...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
