Take part in the SDLT discussion forum and give feedback. Sign up to submit that question you've wanted to ask or to share your experience or an outcome to a point of law or practice that may be puzzling the rest of us.

Home Forums Patrick Cannon Does market value for SDLT include VAT? Reply To: Does market value for SDLT include VAT?

#600
Ben
Guest

Recently there was concern that HMRC may consider that VAT actually payable should be included in exchanges. This was on the basis that while market value does not include VAT (as per SDLTM), para 2 Sch 4 nevertheless requires VAT actually paid to be included. For example, if market value is ?200 and actual consideration is ?100 plus VAT then, in an exchange, the chargeable consideration would be ?210. I understand that HMRC have backed down on this. This has nothing to do with the FA 2011 changes to the exchange rules.