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Hi Patrick – I have received a discovery assessment from HMRC claiming I owe SDLT on a transaction done in October 2011 using one of your sub-sale mitigation schemes through CDP Corporate. Marie from CDP Corporate believes I am fine to appeal their decision as my transaction was before March 2012. CDP did not do a full disclosure of the scheme to HMRC as it was a scheme previously disclosed to them pre April 2010. Are you in agreement with them re my position?
David, I assume from your post that you did an option sub-sale scheme and if so, the fact that your transaction was before the retrospective closure of the scheme from March 2012 means that an appeal is a possibility. You should however weigh up the pros and cons before doing so. It will be interesting to see if HMRC issue the new “follower notices” and “accelerated payment notices” in respect of these schemes even in the absence of clear authority to do so.
