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SDLT relief from rate on company acquiring residence to use as B&B (Goode Cuisine Company Ltd v HMRC)

SDLT relief from rate on company acquiring residence to use as B&B (Goode Cuisine Company Ltd v HMRC)
Published on: 27 április 2018
Published by: LexisPSL
  • SDLT relief from rate on company acquiring residence to use as B&B (Goode Cuisine Company Ltd v HMRC)
  • What are the practical implications of the judgment?
  • Bed and breakfast properties
  • What if the facts happened now?
  • What was the background?
  • What did the FTT decide?
  • HMRC's aggressive line

Article summary

Private Client analysis: John Shallcross, associate at Blake Morgan, examines a First-tier Tax Tribunal (FTT) decision that relief from stamp duty land tax (SDLT) charged at 15% on the purchase by corporate bodies of residential properties for more than £500,000 is only available if the property continued to be a ‘dwelling’ once the property was made available to the public. The FTT concluded that the appellant company was not entitled to relief (under paragraph 5B of Schedule 4A to the Finance Act 2003 (FA 2003)) on its purchase of a residential property for £645,000 in 2015 to be converted into a bed and breakfast. or take a trial to read the full analysis.

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