Don’t pay Stamp Duty (SDLT) – Is It Legal?

October 30th, 2009

There are enormous financial benefits available to our buying clients through utilising the Stamp Duty Land Tax Mitigation Scheme. It can seriously improve your wealth. There are many schemes out there at the moment.

You may be aware that The Independent newspaper ran an article about the Labour Party’s use of SDLT planning which saved them £210,000 in stamp duty land tax. Its perhaps not helpful to go into too much depth on any one scheme but here are some highlights of what we would expect a client to see in any particular plan: -

1).        That  a scheme has been running for a good length of time (even with amendments).

2).        That its proven to work in  a good number of cases.

3).        The planning is backed by a robust Counsel’s Opinion given by leading Tax Counsel.

4).        That the plan has been disclosed to HMRC and has a corresponding scheme disclosure number ensuring that it is fully compliant with HMRC requirements for tax planning.

5).        That any queries by the Inland Revenue have been promptly and easily satisfied.

6).        That the saving from the scheme is substantial.

7).        That their is a ‘no-win-no-fee’  undertaking, via which all fees are fully refunded to the client in the event of a successful challenge by HMRC.

9).       That the scheme is low risk and non-aggressive and does not involve either the vendor or the lending institution involved in the transaction or effect either their title, security or ability to realise funds from the sale of the property.

How does it work?

If you may be interested in more information on this give Stephen Dyer a call on 0800 074 5335 or 07768 778800 and he can put you in touch with our preferred expert on this sdlt scheme.

Labels: ,

Bookmark and Share

One Response to “Don’t pay Stamp Duty (SDLT) – Is It Legal?”

  1. Stephen Dyer says:

    Unfortunately my sources now all appear to agree that the door is closing. This is what Elizabeth Bischoff a partner and speacialist Tax strategist of Charterhouse has said on the 26th July. -

    “With all the recent rumours about SDLT culminating in an hmrc announcement that SDLT schemes based on subsale rules (e.g. Husband and Wife schemes) were to be targeted vigorously we ditched the idea of having our own cheap and cheerful SDLT subsale “punt” as it didn’t seem to us like good advice to be giving.

    However at the same time we managed to persuade the City Law Firm that we use to lower the entry level for their more sophisticated SDLT plan based on Sharia law and I’m please to say that more clients can now avail themselves of this arrangement:

    Leasehold property – minimum purchase price £1.25 million
    Freehold property with a mortgage – minimum purchase price £1 million
    Freehold property with no mortgage – minimum purchase price £750,000

    So, this is so you know who can and cannot be helped easily these days.

    The other fly in the ointment is the fact that several banks will no longer cooperate with an SDLT plan. RBS were the first to stop (not surprisingly being mainly Govt owned) and now HSBC and Barclays are equally obstructive. We do know that Santander; EFG and Handelsbanken seem very happy with tax planning and have not had any difficulties with those.”

    In this fast moving environment her latest message is: -

    The bad news is now that almost all banks are refusing to lend into any tax planning arrangement – apparently Investec have done a few in the last two months now it’s purchasers with 100% cash that re the only people who are likely to be able to do it………….

    Do give her a call if you need to know more (and have any serious enquiries) – tel: 020 8863 4566

Leave a Reply

Subscribe to the blog

RSS IconGet the latest Ideal Property blog posts in your feed reader

Get the latest posts by email

Enter your email address to get the latest Ideal Property posts delivered to your inbox

Get in touch

Arrange an no-cost, obligation-free meeting to discuss your property search and see how Ideal Property can help you

Call 0800 074 5335 or use the online form

Property Search FAQ

Read answers to common questions about using a Property Search agency

HIPS explained

Read about how HIPS legislation impacts on you during your property search

Tom and I both feel that we were able to save a lot of time with your help, since you so quickly got an idea of exactly the sort of place that suited us

LR, Harpenden

About Ideal Property

Stephen Dyer is the founder and Managing Director of Ideal Property Solutions

Stephen has over 25 years of estate agency and relocation experience acting for clients buying and selling literally thousands of properties of every description

He is therefore uniquely qualified to advise and help buyers successfully negotiate the challenges they face in today's property market

The company was formed in 1998, works with both personal & institutional clients and the many positive testimonials have led to Ideal Property being featured in The Times, The Sunday Times & The Independent

Copyright © Ideal Property Solutions

Web Design & SEO by WillsonWebDesign

Login

Recover password

Property FAQ

General FAQHIPs

Current property marketStamp Duty

Working with Ideal Property

Our objective is to give clients a close personal and professional service and at the same time bring a useful insight and enjoyment to the home purchasing process

We make sure we establish the right brief by talking & meeting with you, and explaining the transparent fee structure used by Ideal Property

We find, distill & preview properties, arranging accompanied viewings. With your Ideal Property targeted, we thoroughly research & negotiate, gaining you value and concessions

We faciliate the completion, liasing with all the professionals involved to smooth the process of securing your Ideal Property

On the Ideal Property website

HomeContact

About Ideal PropertySearch Services

SearchesBlog

LinksSitemap & Privacy

Contact Ideal Property