HMRC have added a new 'Spotlight' concerning commercial and residential property sales carried out in ways intended to avoid SDLT by reducing the purchase price below the SDLT band or threshold. HMRC state that these arrangements seek to exploit 'sub sale relief'. Where HMRC finds property sale arrangements that have in its view been artificially structured to avoid paying the correct amount of SDLT these will be actively challenged through the courts where appropriate.
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HMRC have added a new 'Spotlight' concerning commercial and residential property sales carried out in ways intended to avoid SDLT by reducing the purchase price below the SDLT band or threshold. HMRC state that these arrangements seek to exploit 'sub sale relief'. Where HMRC finds property sale arrangements that have in its view been artificially structured to avoid paying the correct amount of SDLT these will be actively challenged through the courts where appropriate.
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:
