This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Search found 171 matches

Go to advanced search

by SDLT Geek
Tue Jun 19, 2018 11:35 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT relief for first time buyers - bare ownership of property in France
Replies: 7
Views: 7620

Re: SDLT relief for first time buyers - bare ownership of property in France

I would be interested to hear who advised that a reversionary interest behind a usufruct is the equivalent of a "major interest" in English SDLT law. I have been aware of this as an issue, but have not seen a firm view expressed on it. Was an opinion obtained from someone well versed in English and ...
by SDLT Geek
Wed Jun 13, 2018 5:55 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT relief for first time buyers - bare ownership of property in France
Replies: 7
Views: 7620

Re: SDLT relief for first time buyers - bare ownership of property in France

The issue here is the meaning of “major interest”. It is clear in England that owning a freehold or leasehold property is a major interest. HMRC say that having a share in such a property is also a “major interest”. For overseas properties one has to see if the interest is an equivalent interest. Yo...
by SDLT Geek
Sun Jun 10, 2018 8:24 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: HMRC Guidance on higher rates of SDLT for additional property
Replies: 1
Views: 2341

Re: HMRC Guidance on higher rates of SDLT for additional property

HMRC expect shortly to replace the brief gov.uk guidance put up in March 2017: https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

There is a meeting tomorrow to discuss the latest draft.
by SDLT Geek
Wed May 23, 2018 10:19 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: help with stamp duty for multiple dwellings
Replies: 3
Views: 978

Re: help with stamp duty for multiple dwellings

But it might be different if for a long time the properties have been owned by a partnership, not by you personally.
by SDLT Geek
Thu May 17, 2018 10:22 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT - definition of "major interest"
Replies: 2
Views: 1248

Re: SDLT - definition of "major interest"

You might well not get a reply from someone who knows enough about Malaysian property law to say whether the interest you have is equivalent to an English law freehold or leasehold estate. So have you looked at other ways of approaching this? 1. Is the value of your interest in the Malaysian propert...
by SDLT Geek
Tue May 15, 2018 9:58 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Purchasing freehold & SDLT
Replies: 7
Views: 2411

Re: Purchasing freehold & SDLT

It is clear that the higher rates will not be due. The “second dwelling” is presumably bought subject to another party’s long lease and so does not count under Condition C as set out in FA2003/Sch4ZA/para3(4).
by SDLT Geek
Thu May 10, 2018 5:57 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: director sells land to company
Replies: 1
Views: 926

Re: director sells land to company

DLA here is directors loan account? The 15% rate of SDLT is applicable where the chargeable consideration for any one dwelling is over £500,000. SDLT should be calculated on the basis of the market value of the 10% interest transferred. What is the landholding? Dwellings? If so, how many? Multiple d...
by SDLT Geek
Fri May 04, 2018 8:18 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Purchasing freehold & SDLT
Replies: 7
Views: 2411

Re: Purchasing freehold & SDLT

Whether first time buyers' relief applies depends on how the purchase is structured and who holds the existing leasehold and freehold interests. 1. If, unusually, the existing lease is collapsed first, so you buy one interest, the freehold, then the relief is not available at all. You are buying two...
by SDLT Geek
Mon Apr 30, 2018 9:50 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Replace Main residence SDLT
Replies: 8
Views: 1679

Re: Replace Main residence SDLT

You could refer your solicitor to FA2003/Sch4ZA/para3(5). Unfortunately the guidance in this area is not as clear in the Manual (from the end of March 2018) as it was in the Guidance Note updated November 2016, but it is useable. Here is a link: https://www.gov.uk/hmrc-internal-manuals/stamp-duty-la...
by SDLT Geek
Sun Apr 29, 2018 7:16 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Replace Main residence SDLT
Replies: 8
Views: 1679

Re: Replace Main residence SDLT

I agree witm maths.

Go to advanced search