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Linked Transactions HMRC SDLT


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Mukhi

Posted on:
11/11/08 10:42

Subject: Linked Transactions HMRC SDLT

Could someone advise me on my position in relations to 'Linked Transactions' on the purchase of 4 flats. My wife and I intend to purchase 2 flats each from private vendor. The 2 sets of flats both fall under the £175k limit. Would this be considered a linked transaction and therefore we would have to pay stamp duty at 3%.

Patrick

Posted on:
12/11/08 13:09

Subject: RE: Linked Transactions HMRC SDLT

Looks like you have linked transactions I'm afraid. Your only hope would be to show that each purchase was unrelated and at a price that would have been agreed for a single purchase in the absence of the others but this looks to be unlikely here.

Alastair Johnston

Posted on:
06/01/09 15:37

Subject: RE: Linked Transactions HMRC SDLT

At a course I attended last year, we were given an illustration of the linked transactions rules. We were told it had come from Crispin Taylor of HMRC - his hypothetical (I hope!) "Stamp Duty Chocolate Tax". Relevant extracts: (1) I go into a shop and buy 2 chocolate bars, each at the price marked on them. The transactions are not linked. (2) The facts are as in (1) but the shopkeeper gives me a discount for bulk purchase. The transactions are linked. (3) The facts are as in (1) but there are no prices marked. The shopkeeper takes a good look at me and names a price. The transactions are probably linked. Unfortunately property purchases are in (3) above, as even if there is an asking price the buyer rarely ends up paying it exactly.

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