The Finance Bill 2020, once passed, will extend the period of time in which homeowners can claim a refund on the additional 3% SDLT paid on the purchase of a second home. It will also bring into focus the settlor’s domicile at the date of additions and transfers to excluded property trusts. In Hashmi, the taxpayer’s claims for private residence relief on three properties sold in three consecutive tax years were dismissed. Bhikhi demonstrates the difficulty and evidential burden of proving an implied trust scenario. The chancellor has announced a temporary SDLT reduction to kick-start the housing market.
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The Finance Bill 2020, once passed, will extend the period of time in which homeowners can claim a refund on the additional 3% SDLT paid on the purchase of a second home. It will also bring into focus the settlor’s domicile at the date of additions and transfers to excluded property trusts. In Hashmi, the taxpayer’s claims for private residence relief on three properties sold in three consecutive tax years were dismissed. Bhikhi demonstrates the difficulty and evidential burden of proving an implied trust scenario. The chancellor has announced a temporary SDLT reduction to kick-start the housing market.
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:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")