Real estate transactions

This subtopic contains a core collection of Practice Notes, Precedents, Checklists and Tables that relate to the tax issues that can arise on common real estate transactions. The following types of transaction are covered in this subtopic:

1. •

   buying and selling property

2. •

   leasing property, and

3. •

   developing property

The content will be useful for those advising on the tax issues which typically arise on these types of transaction. This subtopic covers direct tax (corporation, income and capital gains tax (CGT)), stamp duty land tax (SDLT), and value added tax (VAT). Capital allowances, the construction industry scheme (CIS) and capital goods scheme implications are also covered.

SDLT ceased to apply to any land transaction involving any interests in or over land in Scotland from 1 April 2015. From that date, land and buildings transaction tax (LBTT) applies to such transactions, subject to transitional provisions. Consequently, references in this Practice Note to 'UK land' or similar expressions in the context of the application of SDLT should be read to exclude any interests in or over land in Scotland from 1 April 2015. For further details, see the LBTT