Patrick Cannon Barrister of 15 Old Square Lincoln's Inn reviews the Budget announcements on SDLT and stamp duty
The SDLT announcements were contained in Budget Notes 20 to 24. On the surface the proposed changes contained little to get excited about. There was quite a bit of tinkering with the existing rules to remove some unanticipated consequences plus the long-anticipated removal of the exemption for the contribution of land into a new unit trust. However on closer examination the removal of the unit trust exemption was not straightforward and there were several areas where practitioners may find themselves involved in serious discussions with clients (and possibly HMRC) over the course of the rest of this year and beyond.
Changes in outline
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Patrick Cannon Barrister of 15 Old Square Lincoln's Inn reviews the Budget announcements on SDLT and stamp duty
The SDLT announcements were contained in Budget Notes 20 to 24. On the surface the proposed changes contained little to get excited about. There was quite a bit of tinkering with the existing rules to remove some unanticipated consequences plus the long-anticipated removal of the exemption for the contribution of land into a new unit trust. However on closer examination the removal of the unit trust exemption was not straightforward and there were several areas where practitioners may find themselves involved in serious discussions with clients (and possibly HMRC) over the course of the rest of this year and beyond.
Changes in outline
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
fbf3367d-db6c-4ff2-8db3-85bcec6d2354.jpg?sfvrsn=3e30a8aa_1)
