HMRC collects £300m in stamp duty avoidance crackdown

Private client law firm Collyer Bristow reports that HMRC’s new Counter Avoidance Directorate which was set up in April 2014 raised £301.8m in unpaid stamp duty land tax (SDLT) for the year ended 31 March 2015. Collyer Bristow says that the data provided to them by HMRC reflects the success of HMRC’s targeted crackdown on SDLT avoidance schemes over the last few years. New ‘graduated’ rates of SDLT were introduced in last year’s Autumn Statement with immediate effect to replace the previous ‘slab system’ of rates; while this year’s Autumn Statement saw the announcement of higher SDLT rates being introduced for purchasers of buy-to-let properties from April 2016.

James Badcock partner at Collyer Bristow commented: ‘The high returns from compliance investigations mean that this area is likely to remain under the spotlight for some time to come. Avoidance schemes were being used...