Q&As

A company is buying a plot of land with a single residential house on it, but is intending (and has planning permission) to demolish the house and construct two residential houses. Will the acquisition be treated as residential for the purposes of Tables A and B (contained in section 55 of the Finance Act 2003), and a dwelling for the purposes of the 3% higher rates of SDLT?

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Produced in partnership with Mary Ashley of Old Square Tax Chambers
Published on LexisPSL on 09/03/2018

The following Tax Q&A Produced in partnership with Mary Ashley of Old Square Tax Chambers provides comprehensive and up to date legal information covering:

  • A company is buying a plot of land with a single residential house on it, but is intending (and has planning permission) to demolish the house and construct two residential houses. Will the acquisition be treated as residential for the purposes of Tables A and B (contained in section 55 of the Finance Act 2003), and a dwelling for the purposes of the 3% higher rates of SDLT?

For stamp duty land tax (SDLT) purposes, residential property is defined in section 116 of the Finance Act 2003 (FA 2003). Residential property means buildings that are:

  1. used as a dwelling

  2. suitable for use as a dwelling, or

  3. in the process of being constructed or adapted for use as a dwelling

In considering whether the property is residential, the releva

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