HMRC tax receipts statistics released this week have shown that the chancellor’s reform of the stamp duty land tax (SDLT) regime is already having an impact on tax receipts, says chartered accountancy firm Blick Rothenberg L
While the much-anticipated decision in Project Blue is unsurprising, the decision raises some points of wider interest, including because HMRC prevailed by using FA 2003 s 75A, the SDLT anti-avoidance rule. Michael Thomas (Gray’s Inn Tax Chambers) reports
In this month’s briefing, Mark Middleditch (Allen & Overy) provides a round-up of recent tax developments affecting the City, including: the decisions in Sir Fraser Morrison (contingent CGT liability for shareholder-director) and Project Blue (SDLT anti-avoidance); new tax relief for corporate rescues; and the Office of Tax Simplification’s report on partnership taxation.
The Scottish Landfill Tax (Qualifying Material) Order, SSI 2015/45, has been laid before the Scottish Parliament and lists the materials that will qualify for the lower rate of Scottish landfill tax from 1 April 2015.
A variety of straightforward commercial lease transactions can fail to qualify for the usual SDLT reliefs merely because the lessor or lessee is acting through a nominee, Simon Yeo (KPMG) explains
Ashley Greenbank (Macfarlanes) examines the draft regulations issued following the Autumn Statement announcement to prevent the use of cancellation schemes as a means of reducing stamp duty and SDRT costs on takeovers
Simplification is long overdue, claim Paul Emery & Suzi Edwards (PwC)
As announced in the Autumn Statement, the government has published draft regulations (The Companies Act 2006 (Amendment of Part 17) Regulations, SI 2015/Draft) to prevent companies avoiding stamp taxes by carrying out takeovers using cancellation schemes of arrangement.
SDLT planning and s 75A
Devolution is being undertaken piece-meal and inconsistently, writes Lakshmi Narain