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Responsible stamp duty land tax planning is possible in spite of three sets of legislative provisions
KEY POINTS
- SDLT now has three types of general anti-avoidance rule.
- Uncertainty over HMRC’s application of one rule in the context of corporate deals has mostly been resolved.
- Uncertainty over another rule has significantly increased following a recent tribunal decision.
- The nature of the GAAR requires those entering into land transactions to shift their point of reference.
- Determining where the boundaries of the anti-avoidance provisions lie.
Stamp duty land tax (SDLT) anti-avoidance has been quite a dynamic area this summer. First HMRC confirmed their interpretation of an anti-avoidance provision (see FA 2003 Sch 7 para 2(4A) – the “mini-GAAR”) which restricts the availability of SDLT group relief in certain circumstances.
Second the First-tier Tribunal gave its decision in Project Blue Limited v HMRC [2013]...
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