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SDLT Penalties

Patrick Cannon looks at some issues raised by the application of the direct tax penalty provisions in FA 2007 Sch 24 to SDLT from April 2010 and at the extent of a professional adviser's personal liability for a penalty
This article looks at the new SDLT penalties regime which applies to SDLT returns with a filing date on or after 1 April 2010. The filing date is the last day of the 30-day period which runs after the effective date of the land transaction (FA 2003 s 76(1) and Sch 10 para 2). This means that land transactions with an effective date on or after 2 March 2010 are within the new regime. Due to a lack of precision in the drafting of the definition of the effective date...
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