Q&As

How is SDLT calculated when the buyer has entered a raffle to win a house, ie the consideration given by the buyer is the single winning raffle ticket?

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Produced in partnership with Sean Randall of Blick Rothenberg
Published on LexisPSL on 20/07/2018

The following Tax Q&A produced in partnership with Sean Randall of Blick Rothenberg provides comprehensive and up to date legal information covering:

  • How is SDLT calculated when the buyer has entered a raffle to win a house, ie the consideration given by the buyer is the single winning raffle ticket?

Stamp duty land tax (SDLT) is based on the ‘chargeable consideration’ for a transaction. See Practice Note: SDLT chargeable consideration. The ‘chargeable consideration’ is, except as otherwise expressly provided, any consideration in money or money’s worth given for the subject-matter of the transaction, directly or indirectly, by the purchaser or a connected person: Paragraph 1 of Schedule 4 to the Finance Act 2003 (FA 2003). This means, subject to one reservation, that if the prize is the house, rather than the proceeds of the raffle ticke

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