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Triple jump

24 September 2013 / Sean Randall
Issue: 4421 / Categories: Comment & Analysis , Avoidance , Investments , Land & property

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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