Important recent judicial development concerning Stamp Duty Land Tax treatment of uninhabitable property claims
We wanted to bring to your attention an important recent judicial development concerning Stamp Duty Land Tax (“SDLT”) treatment of uninhabitable property claims, which may impact the advice being given to clients regarding potential pre-completion and refund opportunities. As detailed in a recent article from the Chartered Institute of Taxation, the Court of Appeal in: […]
Transfer of Partnership Property to Limited Company
We recently advised a client who has transferred a Buy to Let property worth £470,000 to their Limited Company. The property was held jointly with the client’s spouse as part of a larger portfolio of Buy to Let properties. Our client’s solicitor had applied the Higher Rates applicable to residential transactions in calculating the Stamp […]
Semi Commercial Property
We recently advised a client that was purchasing a semi commercial property for £2,000,000. The property consisted of a shop on the ground floor with four self-contained flats above, all held under a single Freehold title. Our client’s solicitor had applied the mixed-use rate to calculate a tax charge on this transaction of […]