Edward Milliner and William Watson (Slaughter and May) argue that the interaction between these two taxes is not as straightforward as the Stamp Office might like us to think.
There are dangers in specialisation and in particular the risk that experts in one area will overlook or misunderstand the potential interaction with other areas. Take for instance the Project Blue litigation which has now reached the Supreme Court. The arguments on both sides have understandably focused on the intricacies of the relevant SDLT legislation. But according to a property law expert Professor Julian Farrand (‘Alternative finance and HMRC blinkers’ EFTB 2016 78 1-6) the tax world (and the legislature) has overlooked the effect of a basic principle of property law: arrangements having the same substantive effect as a mortgage will be treated as a mortgage. He argues that the bank providing Islamic finance...
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Edward Milliner and William Watson (Slaughter and May) argue that the interaction between these two taxes is not as straightforward as the Stamp Office might like us to think.
There are dangers in specialisation and in particular the risk that experts in one area will overlook or misunderstand the potential interaction with other areas. Take for instance the Project Blue litigation which has now reached the Supreme Court. The arguments on both sides have understandably focused on the intricacies of the relevant SDLT legislation. But according to a property law expert Professor Julian Farrand (‘Alternative finance and HMRC blinkers’ EFTB 2016 78 1-6) the tax world (and the legislature) has overlooked the effect of a basic principle of property law: arrangements having the same substantive effect as a mortgage will be treated as a mortgage. He argues that the bank providing Islamic finance...
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:
