Comments on: Don’t pay Stamp Duty (SDLT) – Is It Legal? http://www.idealproperty.co.uk/2009/10/50-off-stamp-duty-sdlt-is-it-legal/ Just another WordPress weblog Mon, 30 Aug 2010 10:52:10 +0100 http://wordpress.org/?v=2.8.1-RC1 hourly 1 By: Stephen Dyer http://www.idealproperty.co.uk/2009/10/50-off-stamp-duty-sdlt-is-it-legal/comment-page-1/#comment-149 Stephen Dyer Mon, 30 Aug 2010 10:52:10 +0000 http://www.idealproperty.co.uk/?p=51#comment-149 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. - <em>"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." </em> In this fast moving environment her latest message is: - <em>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…………. </em> Do give her a call if you need to know more (and have any serious enquiries) - tel: 020 8863 4566 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

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