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SDLT—no MDR for land with planning permission (Ladson Preston and AKA Developments v HMRC)

The following Private Client news provides comprehensive and up to date legal information on SDLT—no MDR for land with planning permission (Ladson Preston and AKA Developments v HMRC)

Private Client weekly highlights—22 July 2021

The following Private Client news provides comprehensive and up to date legal information on Private Client weekly highlights—22 July 2021

Taxpayers had no right to attend third party information notice application hearing (Kandore v HMRC)

The following Private Client news provides comprehensive and up to date legal information on Taxpayers had no right to attend third party information notice application hearing (Kandore v HMRC)

Legislation Day: Draft clauses for Finance Bill 2022—Private Client analysis

The following Private Client news provides comprehensive and up to date legal information on Legislation Day: Draft clauses for Finance Bill 2022—Private Client analysis

Featured Private Client content

Notaries and notarisation—notarisation

Notaries and notarisation—notarisationThe principles of the notarial act are that it is:•an act of the notary and not of the parties named in the...

Trust disputes—breach of trust

Trust disputes—breach of trustIt is a fact of life that beneficiaries and trustees fall out. Often this is due to misunderstandings but occasionally...

Trust disputes—action for breach of trust

Trust disputes—action for breach of trustBreach of trustBeneficiaries may consider proceedings either to restore a trust fund or obtain compensation...

Deed of appointment terminating discretionary trust

This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...

Practice notes

IHT—quick succession relief

IHT—quick succession reliefQuick succession relief (QSR), which is not to be confused with taper relief, applies to a transfer of value which attracts...

Produced in partnership with Katya Vagner of PwC 19th May

Practice notes

Liferent trusts—Scotland

Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...

Produced in partnership with Peter Murrin of Turcan Connell 19th May

Scottish Law

Practice notes

What is an offshore trust?

What is an offshore trust?A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or...

Produced in partnership with Mourant Ozannes and Carey Olsen 19th May

Practice notes

Taxation of age 18–25 trusts—IHT

Taxation of age 18–25 trusts—IHTThe special category of age 18–25 trusts was introduced by Finance Act 2006 (FA 2006) to offer some compensation for...

Produced in partnership with Paul Davies of Clarke Willmott 19th May

Practice notes

CGT—gifts

CGT—giftsA gift of an asset is a disposal for capital gains tax (CGT) purposes. It can, therefore, trigger a CGT charge on the gain deemed to have...

Produced in partnership with Laura Poots (Barrister) of Pump Court Tax Chambers 19th May

Q&As

When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?

When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?This Q&A explains when it is...

Produced in partnership with Emma Holland of Stewarts Law 19th May

Practice notes

Trustees—statutory powers of trustees

Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...

19th May

Practice notes

Trustees—removal of trustees

Trustees—removal of trusteesA trustee may be removed against their will in any of the following ways:•under an express power in the trust...

19th May

Q&As

At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?

At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?We assume you refer to the situation when...

19th May

Practice notes

The Cy-près doctrine

The Cy-près doctrineFORTHCOMING CHANGE: On 22 March 2021, the government published its response to the Law Commission’s report of 14 September 2017,...

19th May

Practice notes

Relief for income tax losses

Relief for income tax lossesReliefs entitle taxpayers to reduce the amount of income tax payable. When calculating liability to income tax, a taxpayer...

19th May

Practice notes

Capacity to litigate

Capacity to litigateOn the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without...

19th May

Practice notes

Trustees—self-dealing, unauthorised profits and conflicts of interest

Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...

19th May

Practice notes

Acceptance in Lieu scheme and other heritage property reliefs

Acceptance in Lieu scheme and other heritage property reliefsSTOP PRESS: HMRC has updated its guidance on calculating the special price in Acceptance...

19th May

Precedents

Deed of retirement and appointment of new trustees (no separate appointor) (no continuing trustee)

This Deed is made on [date]Parties1[insert name] of [insert address] and [insert name] of [insert address] (the Retiring Trustees) and2[insert name]...

19th May

Practice notes

Beneficial ownership registers—private clients and trusts

Beneficial ownership registers—private clients and trustsCORONAVIRUS (COVID-19): Certain aspects of the PSC regime are affected by temporary measures...

19th May

Most recent Stamp taxes content

Practice notes

SDLT—general reliefs and exemptions

SDLT—general reliefs and exemptionsOnce is has been determined that there is a notifiable transaction for SDLT purposes, it should be considered...

20th Jul

In-house

Practice notes

SDLT—notifiable transactions

SDLT—notifiable transactionsThis Practice Note considers the steps to take in relation to SDLT once it is established there is a chargeable...

16th Jul

Practice notes

SDLT—administration and compliance

SDLT—administration and complianceThis Practice Note summarises the stamp duty land tax (SDLT) compliance regime and gives an overview of the...

15th Jul

Practice notes

3 per cent higher rates of SDLT on additional residential properties

3 per cent higher rates of SDLT on additional residential propertiesThe higher 3% rates of stamp duty land tax (SDLT) apply to:•purchases of certain...

15th Jul

Practice notes

SDLT—residential property vs non-residential property

SDLT—residential property vs non-residential propertyThe amount of stamp duty land tax (SDLT) charged in relation to a chargeable transaction is a...

15th Jul

Q&As

Where the higher 3% rates of stamp duty land tax (SDLT) are charged because a bare trust is purchasing a property for a beneficiary and the beneficiary has not yet sold their previous main residence (owned by them as an individual), can a refund be sought by the bare trust of the higher 3% rates if the beneficiary sells their previous main residence within three years of the purchase (if the conditions are satisfied and they plan to use the new property bought by the trust as their new main residence)?

Where the higher 3% rates of stamp duty land tax (SDLT) are charged because a bare trust is purchasing a property for a beneficiary and the...

12th Jul

Practice notes

Introductory guide to stamp taxes

Introductory guide to stamp taxesFORTHCOMING CHANGE relating to electronic stamping becomes permanent on 19 July 2021: With effect from 19 July 2021,...

28th Jun

Practice notes

15 per cent rate of SDLT for high-value residential property transactions

15 per cent rate of SDLT for high-value residential property transactionsThe higher rate of stamp duty land tax (SDLT) for high-value residential...

23rd Jun

Practice notes

Stamp duty on transfers—scope, administration and enforcement

Stamp duty on transfers—scope, administration and enforcementFORTHCOMING CHANGE relating to electronic stamping becomes permanent on 19 July 2021:...

23rd Jun

Practice notes

Scotland: Land and buildings transaction tax (LBTT)—the basics

Scotland: Land and buildings transaction tax (LBTT)—the basicsLand and buildings transaction tax (LBTT) replaced stamp duty land tax (SDLT) in...

Produced in partnership with Ronnie Brown of Burness Paull 23rd Jun

Scottish Law

Practice notes

SDLT chargeable consideration

SDLT chargeable considerationThis Practice Note looks at the meaning of chargeable consideration, which determines the amount of stamp duty land tax...

22nd Jun

Practice notes

2% SDLT surcharge for non-residents

2% SDLT surcharge for non-residentsFrom 1 April 2021, non-UK residents that buy residential property in England and Northern Ireland pay a 2%...

22nd Jun

Precedents

2% SDLT surcharge for non-residents—training materials

2% SDLT surcharge for non-residents—training materialsThese Training Materials cover the 2% stamp duty land tax (SDLT) surcharge that applies from 1...

22nd Jun

Practice notes

Wales: Land transaction tax (LTT)—the basics

Wales: Land transaction tax (LTT)—the basicsThis Practice Note provides an overview of land transaction tax (LTT) which replaced stamp duty land tax...

Produced in partnership with Andrew Evans of Geldards LLP 22nd Jun

Practice notes

Rates of SDLT

Rates of SDLTThis Practice Note considers the various rates of stamp duty land tax (SDLT), including rates of SDLT applicable on transactions...

22nd Jun

Q&As

Where executors are purchasing property on behalf of the estate of the deceased, is the transaction subject to stamp duty land tax?

Where executors are purchasing property on behalf of the estate of the deceased, is the transaction subject to stamp duty land tax?We refer you to...

11th Jun

Q&As

Will first-time buyer's stamp duty land tax relief apply to one spouse who is buying their first major interest in a dwelling but where the other spouse has previously owned property, but will not be a named owner on the property being acquired by the first spouse?

Will first-time buyer's stamp duty land tax relief apply to one spouse who is buying their first major interest in a dwelling but where the other...

Produced in partnership with Sean Randall of Blick Rothenberg 6th Jun

Q&As

If a property is purchased by an SPV that will hold the property on bare trust for a company (non-charity) and a charity, can charities relief from SDLT be claimed on the purchase?

If a property is purchased by an SPV that will hold the property on bare trust for a company (non-charity) and a charity, can charities relief from...

6th Jun

Q&As

A is a beneficiary of Z’s estate and receives 40% of a property under Z’s will. A and B (spouse) purchase the remainder at 60% of the agreed probate value of the property. Would SDLT be payable on the entire value of the property or the amount paid by A and B for the remaining 60%?

A is a beneficiary of Z’s estate and receives 40% of a property under Z’s will. A and B (spouse) purchase the remainder at 60% of the agreed probate...

6th Jun

Q&As

How does SDLT apply to a transfer of residential property to a spouse (or ex-spouse) for no consideration pursuant to a Court Order on divorce where each spouse owns one other residential property used as their main residence?

How does SDLT apply to a transfer of residential property to a spouse (or ex-spouse) for no consideration pursuant to a Court Order on divorce where...

6th Jun

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Stamp taxes

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Latest Private Client News

SDLT—no MDR for land with planning permission (Ladson Preston and AKA Developments v HMRC)

Private Client weekly highlights—22 July 2021

Taxpayers had no right to attend third party information notice application hearing (Kandore v HMRC)

Legislation Day: Draft clauses for Finance Bill 2022—Private Client analysis

Featured Private Client content

Notaries and notarisation—notarisation

Trust disputes—breach of trust

Trust disputes—action for breach of trust

Deed of appointment terminating discretionary trust

Most recent Stamp taxes content

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