Category: stamp duty

The Autumn 2024 Budget: A Summary of the Key Reforms for Financial Remedy Practitioners – Financial Remedies Journal

Posted November 4th, 2024 in budgets, capital gains tax, corporation tax, divorce, education, families, financial dispute resolution, financial provision, foreign jurisdictions, inheritance tax, minimum wage, national insurance, news, stamp duty, taxation by tracey

‘The Autumn Budget 2024 (“the Budget”) saw history being made as Rachel Reeves, who became our first female Chancellor of the Exchequer, set out arguably the biggest tax changes for a generation, set to raise taxes by £41bn by 2029/30 and said to be part of the Government’s plan to revitalise Britain. In this article, we will summarise the key reforms of the Budget, highlighting those which may be of particular relevance to financial remedy practitioners and their clients.’

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Financial Remedies Journal, 1st November 2024

Source: financialremediesjournal.com

New Acts – legislation.gov.uk

Posted February 13th, 2023 in housing, legislation, mortgages, stamp duty, taxation by tracey

2023 c. 2 – Stamp Duty Land Tax (Temporary Relief) Act 2023

Source: www.legislation.gov.uk

Research Briefing: Stamp duty land tax on residential property – House of Commons Library

Posted August 11th, 2021 in housing, news, parliament, stamp duty, taxation by tracey

‘This Commons Library paper discusses the way that sales of residential property are taxed, and a series of reforms that have been introduced to stamp duty land tax in recent years.’

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House of Commons Library, 10th August 2021

Source: commonslibrary.parliament.uk

New Acts – legislation.gov.uk

Posted July 23rd, 2020 in budgets, legislation, stamp duty by tracey

Stamp Duty Land Tax (Temporary Relief) Act 2020

Supply and Appropriation (Main Estimates) Act 2020

Business and Planning Act 2020

Source: www.legislation.gov.uk

Conveyancers calls on government to extend furlough scheme – Legal Futures

Posted April 24th, 2020 in conveyancing, coronavirus, delay, employment, housing, news, remuneration, stamp duty by sally

‘The furlough scheme should be extended for property businesses, like conveyancers, where income required to pay staff will not be available for months after work is undertaken once lockdown is lifted, the government has been told.’

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Legal Futures, 23rd April 2020

Source: www.legalfutures.co.uk

Supreme Court restores avoidance finding in Project Blue SDLT case – OUT-LAW.com

Posted June 15th, 2018 in news, sale of land, stamp duty, Supreme Court, tax avoidance by tracey

‘A stamp duty land tax (SDLT) claim by HM Revenue and Customs (HMRC) in connection with the purchase of the former Chelsea Barracks in London, worth a potential £50 million, has been restored by the UK Supreme Court.’

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OUT-LAW.com, 14th June 2018

Source: www.out-law.com

Brexit & Developments in Valuer’s Liabilities – Hailsham Chambers

Posted November 22nd, 2017 in housing, international relations, news, referendums, stamp duty, taxation, valuation by sally

‘In the run up to the referendum the mood about the consequence of a leave vote was, from an economic point of view, pessimistic. ‘

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Hailsham Chambers, 3rd November 2017

Source: www.hailshamchambers.com

Solicitor accepts rebuke for involvement in £2m SDLT schemes – Legal Futures

Posted October 25th, 2016 in costs, disciplinary procedures, fines, news, solicitors, Solicitors Regulation Authority, stamp duty by michael

‘A solicitor involved in conveyancing transactions that resulted in the non-payment of £2m in stamp duty land tax (SDLT) has accepted a rebuke from the Solicitors Regulation Authority (SRA).’

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Legal Futures, 24th October 2016

Source: www.legalfutures.co.uk

Wales moves to replace stamp duty with new land transaction tax – The Guardian

Posted September 12th, 2016 in bills, news, stamp duty, taxation, Wales by sally

‘The first new Welsh tax for almost 800 years is to be outlined in a bill expected to be introduced on Monday.’

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The Guardian, 12th September 2016

Source: www.guardian.co.uk

Stamp duty aftershock triggers rollercoaster ride for conveyancers ahead of Brexit vote – Legal Futures

Posted August 25th, 2016 in conveyancing, news, stamp duty, taxation by sally

‘Conveyancing activity in Q2 followed a rollercoaster journey with transactions jumping by almost a quarter (24%) year-on-year – up from 230,430 to 286,425 – as completions were registered following the rush to beat the Stamp Duty Land Tax (SDLT) changes for buy-to-let properties and second homes on 1 April 2016, according to the latest edition of the Conveyancing Market Tracker from Search Acumen, the search provider.’

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Legal Futures, 25th August 2016

Source: www.legalfutures.co.uk

Offline conveyancers could face stamp duty penalties – Law Society’s Gazette

Posted August 16th, 2016 in consultations, conveyancing, electronic filing, law firms, news, penalties, solicitors, stamp duty by sally

‘Solicitors could face penalties for not filing stamp duty returns online, under proposed government reforms to the conveyancing process.’

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Law Society’s Gazette, 15th August 2016

Source: www.lawgazette.co.uk

Finance & Divorce Update, July 2016 – Family Law week

Posted July 20th, 2016 in appeals, dispute resolution, divorce, EC law, families, family courts, fees, financial dispute resolution, financial provision, inquiries, insolvency, jurisdiction, legal aid, news, select committees, stamp duty, statistics, Supreme Court, tribunals by tracey

‘Edward Heaton, Principal Associate and Jane Booth, Associate, both of Mills & Reeve LLP, analyse the news and case law relating to financial remedies and divorce during June 2016.’

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Family Law Week, 15th July 2016

Source: www.familylawweek.co.uk

Stamp Duty Land Tax – Tanfield Chambers

Posted July 12th, 2016 in enfranchisement, housing, leases, news, stamp duty, taxation by sally

‘Does the 3% second home surcharge apply to statutory lease extensions and enfranchisement under the 1993 and 1967 Acts?’

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Tanfield Chambers, 6th June 2016

Source: www.tanfieldchambers.co.uk

Divorce settlements open to challenge as lawyers ‘unaware of stamp duty change’ – Daily Telegraph

Posted June 30th, 2016 in appeals, divorce, financial provision, housing, matrimonial home, news, stamp duty by tracey

‘Thousands of divorce settlements could be left open to appeal because the Government’s new stamp duty surcharge is leaving estranged partners unable to buy their own home following a split.’

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Daily Telegraph, 30th June 2016

Source: www.telegraph.co.uk

Court of Appeal: SDLT not payable by company using Shari’a finance scheme – OUT-LAW.com

Posted June 1st, 2016 in appeals, banking, HM Revenue & Customs, interest, interpretation, Islam, news, sale of land, stamp duty, tax avoidance by sally

‘Project Blue Limited (PBL) was not liable for stamp duty land tax (SDLT) in respect of its acquisition of the former Chelsea Barracks by means of a Shari’a finance scheme, the Court of Appeal has ruled.’

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OUT-LAW.com, 31st May 2016

Source: www.out-law.com

Ten new laws that come into force in April 2016 – and how they affect you – The Independent

Posted April 4th, 2016 in benefits, budgets, council tax, dentists, deportation, dogs, EC law, hospitals, housing, immigration, interest, landlord & tenant, local government, medicines, minimum wage, national insurance, news, pensions, prisons, remuneration, rent, stamp duty, statistics, taxation by sally

‘April 2016 is a month of big changes for people living and working in the UK. A number of new laws and policies are coming into force, affecting just about everyone from public sector workers to dog owners. Here’s what the new laws could mean for you.’

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The Independent, 3rd April 2016

Source: www.independent.co.uk

SRA fines firm £2,000 for £2.5m stamp duty avoidance schemes – Legal Futures

Posted October 3rd, 2014 in fines, law firms, news, Solicitors Regulation Authority, stamp duty, tax avoidance by tracey

‘Leading Surrey firm Mundays has been fined £2,000 by the Solicitors Regulation Authority for using stamp duty land tax (SDLT) avoidance schemes which saved clients over £2.5m.’

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Legal Futures, 3rd October 2014

Source: www.legalfutures.co.uk

Taxman wins fight to close property tax loophole – Daily Telegraph

Posted June 16th, 2014 in appeals, housing, mortgages, news, stamp duty, taxation by sally

‘A High Court ruling has sided with the taxman over legislation introduced last year which aims to stop wealthy property buyers avoid paying tens of thousands of pounds in stamp duty.’

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Daily Telegraph, 13th June 2014

Source: www.telegraph.co.uk

Rise in rogue lawyers pocketing stamp duty payments – Daily Telegraph

Posted May 9th, 2014 in complaints, fees, legal ombudsman, news, solicitors, stamp duty by sally

‘The Legal Ombudsman has seen a spike in complaints about sloppy legal work around house purchases.’

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Daily Telegraph, 8th May 2014

Source: www.telegraph.co.uk

DV3 RS Ltd Partnership v Revenue and Customs Comrs – WLR Daily

Posted July 31st, 2013 in law reports, leases, partnerships, sale of land, stamp duty, tax avoidance by sally

DV3 RS Ltd Partnership v Revenue and Customs Comrs [2013] EWCA Civ 907; [2013] WLR (D) 311

“Where a vendor contracted to sell a chargeable interest to a company and the company made a sub-sale to a partnership (of which the company was a member), both contracts being completed at the same time with sequential transfers, the partnership, as taxpayer, acquired a chargeable interest liable to stamp duty land tax.”

WLR Daily, 25th July 2013

Source: www.iclr.co.uk