Michael Collins (Temple Tax Chambers) looks at the unfortunate consequences of new FA 1986 s 77A for share-for-share exchanges in advance of company reorganisations.
The Office of Tax Simplification is to carry out a review of stamp duty on paper share transactions. The review will aim to simplify the process from both a technical and administrative standpoint, and will include considering the possibility of removing entirely the need for physical stamping.
Patrick Cannon (15 Old Square Chambers) provides guidance on the recent decision made by the Court of Appeal in Project Blue, and asks why the MoD did not make it a condition of sale that SDLT was paid.
HMRC collected £174m from the annual tax on enveloped dwellings (ATED) in 2015/16, up 50% from the £116m collected in 2014/15.
The Finance Act 2003, Section 66 (Prescribed Statutory Provisions) Order, SI 2016/558, exempts from SDLT transfers of land made on or after 26 May 2016 to the Homes and Communities Agency or the Welsh government under provisions of the Housing and Regeneration Act 2008, if either the purchaser or
The government is to table a Finance Bill amendment with retrospective effect from 1 April 2016 to ensure that the SDLT higher rate for additional residential properties will not apply to financial institutions involved in alternative finance transactions used to fund property purchases by indivi
During the second reading debate on the Finance Bill (see below), the government announced its intention to table an amendment to the provisions on SDLT higher rates for additional dwellings (cl 117) to ensure that ‘granny flat’ annexes attached to a main property do not come within the charge.
HMRC has published a new form (see www.bit.ly/1MNAHwG) on which to apply for a repayment of the higher rates of SDLT charged on the purchase of an additional property, where this overlapped with a previous main home sold within 36 months.
HMRC has published a new ATED relief declaration return for regulated home reversion plans (see www.bit.ly/1S0t0Wh).
Revenue Scotland has added new guidance on making land and buildings transaction tax (LBTT) returns for the additional dwelling supplement to its website. The guidance has been updated to include material on how to make returns for LBTT transactions that include payment of the supplement.