Section 9(2)(c) of the Mental Capacity Act 2005 (MCA 2005) provides that for a lasting power of attorney (LPA) to be created, the donor must have reached age 18 and have capacity to execute the LPA. Since the LPA is a deed, the phrase 'capacity to execute' the LPA is governed by the usual rules relating to capacity to execute a deed. MCA 2005 contains a two-limbed test for capacity. Firstly, in order to lack capacity until MCA 2005, a person

Is someone’s voice personal identifiable information under GDPR? A voice recording is likely, in almost all circumstances, to constitute ‘personal data’, under the definition at Article 4(1) of Regulation (EU) 2016/679, the General Data Protection Regulation (GDPR), because it is information relating to an identified or identifiable natural person. It is possible that a recording might exist from which it is impossible to identify the person recorded, but in most cases one should proceed on the presumption that a recording is ‘personal

Stamp duty is chargeable on a transfer on sale of stock or marketable securities by reference to the amount or value of the consideration for the sale: paragraphs 1–2, Schedule 13 to the Finance Act 1999 (FA 1999). The assignment of a security interest over shares would not normally be a transfer of any stock or marketable securities. Even if it were, say in the context of the transfer of shares for collateral,

This Q&A refers to the basic payment scheme (BPS) under which the EU provides the farming industry with rural grants and payments. For more on BPS, see: Basic payment scheme. Stamp duty land tax (SDLT) applies to chargeable land transactions. A land transaction is an acquisition of a chargeable interest. A chargeable interest is defined very broadly in section 48 of the

Stamp duty land tax (SDLT) is charged on chargeable land transactions under section 42 of the Finance Act 2003 (FA 2003) and is imposed by reference to the chargeable consideration payable. For further guidance, see Practice Note: Land transactions, chargeable interests and chargeable transactions. Chargeable consideration is defined largely in FA 2003, s 50 and FA 2003, Sch 4. It is defined as any consideration given in money or money’s worth, directly or indirectly, by the buyer or a person connected with them. For more on chargeable consideration, see Practice Note: SDLT chargeable consideration and HMRC’s SDLT Manual: SDLTM03700. This means that where a chargeable transaction takes place for no chargeable consideration, SDLT will generally not be payable. However, FA 2003, s 53 imposes a market value charge in certain circumstances where the vendor and purchaser are ‘connected’. Broadly, where there is: • a land transaction between a vendor and

Joint tenants are each entitled to the whole of the property. The key feature of a joint tenancy is the right of survivorship. When one joint tenant dies, his interest in the property automatically passes to the remaining joint tenants (regardless of any contrary intention expressed in his will). The last survivor becomes the sole beneficial owner. However, a joint tenancy in equity can be severed and converted into a tenancy in common. For

The higher rates of stamp duty land tax (SDLT) apply to: • purchases of certain additional residential properties by individuals, and • purchases of residential properties by purchasers who are not individuals regardless of whether they hold any other residential properties In particular, the higher rates apply to purchases of: • major interests • in a dwelling • where the chargeable consideration is £40,000 or more (Condition A), and • where the purchased interest in the dwelling is not subject to a long lease

Stamp duty land tax (SDLT) is charged on chargeable land transactions under section 42 of the Finance Act 2003 (FA 2003) and is, subject to some exceptions, imposed by reference to the chargeable consideration given. Chargeable consideration is defined largely in FA 2003, s 50 and FA 2003,

SDLT and static mobile homes Stamp duty land tax (SDLT) is charged on land transactions (ie legal or equitable interests in land located in the UK) for chargeable consideration. The SDLT provisions attribute a particular meaning to ‘chargeable consideration’ which includes not only money or money’s worth, but also other means by which value is given to the transferor of the land. The SDLT provisions are set out in Part 4 of the Finance Act 2003 (FA 2003). A land transaction is defined as the acquisition of a ‘chargeable interest’, which is defined broadly in the FA 2003, s 48 as: • an estate, interest, right or power in or over land in the UK, or • the

A reverse premium does not count as chargeable consideration for stamp duty land tax purposes

As explained in Practice Note: Land transactions, chargeable interests and chargeable transactions, a land transaction where there is no chargeable consideration (for which, see Practice Note: SDLT chargeable consideration) is exempt from stamp duty land tax (SDLT) (known as an exempt transaction)

Since UK stamp duty applies to instruments of transfer (such as stock transfer forms) relating to stock or marketable securities (paragraph 1, Schedule 13, Part I to the Finance Act 1999 (FA 1999), UK stamp duty is payable in respect of a stock transfer form transferring shares as part of a section 110 demerger, unless an exemption or relief applies. If the shares being transferred are unlisted and admitted to trading on a recognised growth market (such as AIM), a transfer of those shares is exempt from UK stamp duty (and stamp duty reserve tax) (section 115 of the Finance Act 2014 (FA 2014), FA 2014, Sch 24, Pt 2, paras 5–12; sections 67(8A)–(88B), 70(8A)–(8B) and 99A of the Finance Act 1986 (FA 1986)). For more information on: • exemptions from stamp duty generally, see Practice Note: Exemptions and reliefs from stamp duty, and • the exemption for unlisted shares admitted to trading on a recognised growth market, see Practice Note: