Q&As

Where A transfers Blackacre (value £1.5m) to B and in exchange B transfers Whiteacre to A (value £1m) how is stamp duty land tax (SDLT) calculated under paragraph 5 Schedule 4 to the Finance Act 2003 where the exchange is a negotiated commercial transaction between third parties? Can an exchange in these circumstances be treated as including an element of gift or will A and B both pay SDLT on £1.5m?

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Produced in partnership with Mary Ashley of Old Square Tax Chambers
Published on LexisPSL on 16/03/2018

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:

  • Where A transfers Blackacre (value £1.5m) to B and in exchange B transfers Whiteacre to A (value £1m) how is stamp duty land tax (SDLT) calculated under paragraph 5 Schedule 4 to the Finance Act 2003 where the exchange is a negotiated commercial transaction between third parties? Can an exchange in these circumstances be treated as including an element of gift or will A and B both pay SDLT on £1.5m?

Where A transfers Blackacre (value £1.5m) to B and in exchange B transfers Whiteacre to A (value £1m) how is stamp duty land tax (SDLT) calculated under paragraph 5 Schedule 4 to the Finance Act 2003 where the exchange is a negotiated commercial transaction between third parties? Can an exchange in these circumstances be treated as including an element of gift or will A and B both pay SDLT on £1.5m?

Special rules apply where one or more land transactions is entered into by a person wholly or partly in consideration of one or more land transactions entered into by the same person as vendor.

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