Euan Sutherland Senior Manager in the Stamp Tax Consultancy of Deloitte examines the Finance Bill 2008 amendments to the SDLT partnership rules
SDLT is as a general rule payable on the acquisition of an interest in land in the UK and is calculated on the chargeable consideration given for the purchase. Chargeable consideration includes inter alia cash and the assumption of debt. Companies and unit trust schemes like individuals are charged SDLT when they acquire land. However as they are not transparent there is no charge (at least to SDLT) when shares or units are themselves sold on. This follows the established principles of the old stamp duty regime. The position is somewhat more confused for property investment partnerships.
'To...
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Euan Sutherland Senior Manager in the Stamp Tax Consultancy of Deloitte examines the Finance Bill 2008 amendments to the SDLT partnership rules
SDLT is as a general rule payable on the acquisition of an interest in land in the UK and is calculated on the chargeable consideration given for the purchase. Chargeable consideration includes inter alia cash and the assumption of debt. Companies and unit trust schemes like individuals are charged SDLT when they acquire land. However as they are not transparent there is no charge (at least to SDLT) when shares or units are themselves sold on. This follows the established principles of the old stamp duty regime. The position is somewhat more confused for property investment partnerships.
'To...
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)")