Since the introduction of Stamp Duty Land Tax in 2003, the legal framework has been amended numerous times to deal with ongoing practical problems that have arisen. The result is a regime that is complex and fraught with technical difficulties. The author, one of the country's leading authorities on the subject, guides the reader through every aspect of this tax regime, offering valuable technical and practical advice throughout. This third edition has been fully updated to take on board developments in the Finance Act 2009; major changes in the fixed stamp duties for land transactions in the Finance Act 2008; the new compliance regime; changes to record keeping, payment and electronic filing and partnerships; an expansion on general antiavoidance provisions and an examination of problems on land and goodwill. In addition many technical problems have lain dormant because the situations could not occur until now such as rent reviews after 5 years, changes in the rate of VAT or holding over of leases subject to the tax. These are now becoming live and expensive issues and because of the changes in the law previous advice may be incorrect.
Such current topics as rent reviews, holding over, clawbacks and deterred consideration where the retrospective reviews of earlier returns are required and the related practical problems including possible tax refund claims are dealt with in depth.
Table of Contents
The charge to stamp duty land tax; Rates and computation; Leases and rents; Tax triggers; Identifying the taxpayer; Exemptions and reliefs; Special situations such as:; - Building agreements; - Subsales and assignments; - Trusts and estates; Compliance; Land Registry issues; Land tax return requirements; Revenue and self certificates; Enquiries and information powers; Valuation.
Reg Nock, Barrister, 15 Old Square Tax Chambers