SDLT Avoidance scheme

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This topic contains 3 replies, has 1 voice, and was last updated by SDLT Avoidance scheme by Patrick Cannon 1 Patrick Cannon 21st April 2008 at 9:49 pm.

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  • #292 Reply
    SDLT Avoidance scheme by Patrick Cannon 2
    Catherine Gill

    I get asked by lots of clients about ways ’round’ SDLT recently a scheme has been suggested to me of partial completion i.e. the original purchaser defaults and the new ‘buyer’ steps in and completes the transaction albeit for a substantially reduced price. I wondered how effective this is and whether or not there is a more robust method.

    #293 Reply
    SDLT Avoidance scheme by Patrick Cannon 3
    Patrick Cannon

    I would be very wary about any tax planning based on a contrived default. There are some legitimate schemes still available which work by applying the SDLT rules to the taxpayer’s advantage without the pretence of a default.

    #294 Reply
    SDLT Avoidance scheme by Patrick Cannon 2
    Catherine Gill

    Yes I did feel wary of the whole idea hence my post as I do not have any knowledge of the current schemes. What would be my best course of action? Knowing that everyone likes to keep the best ideas to themselves! I feel way behind in the game at the moment and would like to catch up.

    #295 Reply
    SDLT Avoidance scheme by Patrick Cannon 3
    Patrick Cannon

    A conference with counsel to consider legitimate SDLT savings possibilities would be a great way to start!

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