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Home truths
KEY POINTS
- Opting to tax a property may have unexpected consequences when selling.
- Stamp duty land tax charges may be affected by VAT considerations.
- Capital gains tax and income tax may both be due on sale.
- Land pooling arrangements should be carefully checked before signing.
- Impact of annual tax on enveloped dwellings.
There are myriad considerations when a client sells land buildings or both to a developer. These cover capital gains tax VAT stamp duty land tax (SDLT) land pooling and annual tax on enveloped dwellings (ATED) for both parties.
At a basic level Build Ltd may approach a client with a view to purchasing property without planning permission. The price offered will reflect the cost of applying for consent and the risk...
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