Have any forum members any recent experience of HMRC’s approach to SDLT in Jenkins v Brown/Pooling arrangements. Their public pronouncements on the topic, which have been few seem to vacillate between saying that Jenkins v Brown (which was a CGT case) will apply mutatis mutandis to SDLT and claiming that these will be taxed as an exchange.
The latest from HMRC Stamp Taxes (courtesy of STPG) re such land pooling arrangements is as follows:
?Our advice remains as it was in 2004 ? provided the land is transferred into a bare trust for which the trustees hold the land for those entitles the transaction will not attract SDLT. However, we will be looking at this going forward and may decide to change our policy approach, or our legislation, to clarify the position but until this happens we will stand by our previous advice.?