Q&As

If a property is settled on a bare trust for a beneficiary, is that beneficiary subject to the 3% higher rate of SDLT when they purchase a property later on?

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Published on LexisPSL on 06/01/2021

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  • If a property is settled on a bare trust for a beneficiary, is that beneficiary subject to the 3% higher rate of SDLT when they purchase a property later on?

If a property is settled on a bare trust for a beneficiary, is that beneficiary subject to the 3% higher rate of SDLT when they purchase a property later on?

See Practice Note: 3 per cent higher rates of SDLT on additional residential properties which states that a beneficiary of a bare trust or a trust for life is treated as the purchaser for the purposes of the higher 3% rates, see also paragraphs 10–11 of Part 3 of Schedule 4ZA to the Finance Act 2003. The

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