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Reg Nock Barrister at 24 Old Buildings looks at the consequencies for charities of the very few real exemptions from SDLT
The Inland Revenue Stamp Taxes Office has a theory that general exemptions are a bad thing because they are simply basic building blocks of massive tax avoidance schemes. In consequence like other divisions of the Inland Revenue it is firmly of the view that to take advantage of a tax exemption is improper avoidance (see Willoughby v IRC [1997] STC 995). In consequence there are very few real exemptions from stamp duty land tax. This paucity of reliefs will bear heavily upon bodies in the public and philanthropic sectors such as local authorities hospitals and schools. There is at present little direct relief for...
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