It states that the First Tier Tribunal has confirmed the Vardy Property Group's failure to follow the company law after using a stamp duty avoidance scheme to avoid paying £290,000 in tax. Moreover, i...
Total stamp duty receipts have fallen between 2019 to 2020 and 2020 to 2021, decreasing by 19% from £15,220m to £12,345m, according to the HMRC UK Stamp Tax statistics. The HMRC data also found that land and property stamp taxes (SDLT) receipts have decreased by 25% from £11...
What land would not constitute “grounds or garden”? Recent discussion, as summarised in Adam Corbin’s article “Stamp Duty Land Tax and mixed use premises: “grounds with house for sale?”” has focused around what type of land falls outside the scope of “garden or grounds” and would...
The article discusses the decision of Great Britain's Her Majesty's Revenue and Customs (HMRC) to close a 135 million pound stamp duty tax avoidance scheme used to buy Chelsea Barracks in London, England after a tax tribunal ruled in its favour in 2013.Dale...
It states that HMRC has won a landmark victory after the First Tier tribunal ruled against the use of a stamp duty loophole known as sub-sale relief. It states that the tribunal has held that property firm Vardy Property Group, who bought a business park, must pay the 290,000 pounds ...
In addition, HMRC controversially takes the view that actual consideration is only chargeable where the partners are connected (and therefore a charge based on market value will not arise) - "connected" for these purposes having the meaning as in ICTA 1988 s.839. Para 33700 of HMRC's draft ...
The article reports that HM Revenue and Customs could lose about one billion pounds in tax revenues if HSBC Holdings PLC's landmark stamp duty reserve tax (SDRT) ruling in the ECJ is extended beyond the European Union (EU). It states that SDRT was charged on shares in Great Britain ...
It notes the HMRC has closed a 拢135 million stamp duty tax avoidance scheme that was used to acquire Chelsea Barracks for commercial reasons. Moreover, HMRC has ruled that Project Blue has failed to establish evidence over the consideration of tax avoidance as a factor to proceed the ...