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Stamp Taxes

If you are buying UK property, shares or a business, you may be liable for stamp taxes.  In addition, if you own residential property in a company valued in excess of £500,000 you may be subject to the Annual Tax on Enveloped Dwellings (ATED) charge.

Stamp taxes can be notoriously complex, and often forgotten, but they can represent a significant cost.

 

How can we help you?

  • Review property transactions to determine whether the SDLT liability can be reduced
  • Advise on ATED and help with annual reporting
  • Advise on other tax implications of the acquisition of property or land.
  • Obtaining clearance from HMRC before entering into a transaction where appropriate
  • Help you to meet your compliance obligations.

Client case study 1

SDLT advice on the new 3% surcharge for additional residential properties

Background: We were approached for SDLT advice in connection with a new property purchase. Our client owned a property personally which they had lived in with their partner for many years.  The partner owned a rental flat solely in their name.  

The couple wished to jointly purchase a new property to live in and sell the house they were currently living in. This, however, would have triggered an additional 3% SDLT liability on the entire property value by virtue of the partner not having a share in the main residence and owning a separate property. 


How we helped: Without our help, additional SDLT of £9,000 would have been due under the new 3% surcharge rules.  As a result of our advice,   the client was able to change their position, saving them from paying this additional SDLT.


 
 

 

Client case study 2

SDLT savings on incorporation

Background: We were approached for a second opinion on the SDLT implications of transferring properties held in a partnership to a company owned by the same partners.  The (now) client had been told by their incumbent advisers that SDLT would apply on the transfer.

How we helped: We applied for and received clearance from HMRC that the transfer would not be subject to SDLT, which resulted in us saving the client £260k in SDLT that they would have otherwise paid.