The following Tax Q&A produced in partnership with Sean Randall of Blick Rothenberg provides comprehensive and up to date legal information covering:
It is implicit in this Q&A that an election has not been made for stamp duty land tax (SDLT) to be charged on the market value of the lease at the time of its grant (under paragraph 2 or 4 of Schedule 9 to the Finance Act 2003 (FA 2003)). If it had been made, no SDLT would be chargeable on the final staircasing transaction. If that is right, subject to the below, SDLT will be chargeable on the (35%) acquisition made by the tenant on the final staircasing transaction. SDLT will also be chargeable on the (100%) acquisition made by the buyer on his purchase of the property. This is logical: two separate chargeable interests are acquired by two separate people in pursuance of two separate contracts.
The qualification relates to the potential availability of relief fo
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The principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is irrelevant as D
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Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
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