Do they think it’s all over? – Anthony Hennessy examines SDLT
This article is reproduced here with the kind permission of Solicitors Journal
Following the introduction of Stamp Duty Land Tax (SDLT) in 2003, SDLT avoidance schemes enjoyed several seasons in the sun. Schemes and their promoters flourished. The volume of land transactions (in boom property times), the very mechanical way in which land transaction returns are processed, the lack of resource devoted by HM Revenue and Customs (HMRC) to enquiring into land transaction returns and an apparent perception by HMRC, somewhat of the unsinkable Titanic variety, that SDLT was a tax which, in contrast to stamp duty, did not lend itself to avoidance, all contributed to an avoidance friendly environment.
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