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FTT concludes that option was not acquired for the exclusive purpose of a property development trade (Investment and Securities Trust Ltd v HMRC)

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Published on: 26 March 2024

Published by a LexisNexis Tax expert

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Tax analysis: In Investment and Securities Trust Limited, the First-tier Tax Tribunal (FTT) considered whether an option in respect of a residential property was acquired and held exclusively for the purpose of development and resale in the course of the appellant’s property development trade for the purposes of relief from the 15% rate of SDLT under Finance Act 2003, Sch 4A, para 5 and ATED under Finance Act 2013, s 138.

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