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.
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.
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.