Disclosure of SDLT Avoidance Schemes

Since 1 August 2005 disclosure has been required of certain stamp duty land tax (SDLT) schemes. This article is intended to provide an easy-to-use guide to the SDLT disclosure rules. It is an initial impression of the new rules and the views expressed may alter as experience of the operation and effect of the new rules is gained. The new rules have been built onto and incorporate most of the direct tax scheme disclosure rules that were already in existence on 1 August 2005 in relation to employment and financial products referred to here as 'the basic rules'. The basic rules contain a lot of definitions and other matters relating to tax scheme disclosure...