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Multiple benefits
KEY POINTS
- If multiple dwellings relief applies the stamp duty land tax liability on the transaction is calculated according to the average value of the properties purchased multiplied by the number of those dwellings.
- Dwelling is defined in FA 2003 Sch 6B para 7.
- Council tax and VAT cases are instructive if not binding in determining a property for multiple dwellings relief.
- A multi-factorial assessment of the property’s characteristics is required to determine the nature of the dwelling.
Despite concerns to the contrary multiple dwellings relief survived the autumn Budget and remains an important if underused relief from stamp duty land tax.
The relevant legislation is contained in FA 2003 Sch 6B. Broadly the relief may be claimed when the main subject matter of a transaction or linked transactions is two or more dwellings. If it applies the stamp duty land tax liability is calculated...
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