Home Forums Patrick Cannon Does SDLT sub-sale relief work when there are two land transfers?

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    Ron Engel
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    Our clients are contracted to buy land under a non-assignable contract. They wish to enter into a simultaneous transfer of the land to a third party on completion. The seller will not agree to enter into a sub-sale, so that two transfers will be required. It is our understanding that sub-sale relief may still apply, despite there being two transfers. Any ideas how does that work?

    #400 Reply
    Patrick Cannon
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    Two transfers are ok as long as they are completed simultaneously. I suggest that each one is released at the same time and that the same exact time is endorsed on each form and signed by the conveyancer.

    #401 Reply
    Quam
    Guest

    Will the sub-sale relief still apply regardless of the consideration paid by the third party to original purchaser?

    #402 Reply
    Patrick
    Guest

    If consideration is paid by the sub-purchaser to the original seller then it is likley to be taxed – see s45(3)(b)(i)

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