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Stamp Taxes 2020/21

By: Ken Wright
Media of Stamp Taxes 2020/21
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Published: 24-09-2020
Format: Paperback
Edition: 1st
Extent: 584
ISBN: 9781526514820
Imprint: Bloomsbury Professional
Series: Core Tax Annuals
Dimensions: 234 x 156 mm
RRP : £120.00

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About Stamp Taxes 2020/21

Stamp Taxes 2020/21 is a comprehensive and practical guide to all current UK stamp and land taxes: Stamp Duty Land Tax (England and Northern Ireland), Stamp Duty (UK) and Stamp Duty Reserve Tax (UK), together with commentary on Land and Buildings Transaction Tax (Scotland) and Land Transaction Tax (Wales).

It explains the reasons behind many of the current rules by exploring the history and development of stamp taxes, whilst setting out the scope of each tax and explaining how they interact.

This new edition includes the following:

- Analysis of the provisions of Finance Act 2020 (Finance Bill 2019-2021) as follows:
(a) Market value rule for both stamp duty and SDRT purposes on the transfer of unlisted shares and securities to a connected company for consideration all or part of which comprises an issue of shares
(b) Exclusion of 'partition demergers' from the meaning of 'disqualifying arrangements' for the purposes of FA 1986, s 77A provided certain conditions are satisfied
- Consideration of the Government's proposal to charge a 2% surcharge on top of existing SDLT rates for purchases of residential property by non-UK residents from 1 April 2021
- Commentary on updated HMRC guidance as to the meaning of (a) 'residential property' and (b) 'garden or grounds' of a dwelling, for SDLT purposes. The commentary includes consideration of the latest case law on these matters
- Analysis of the updated HMRC guidance on the application of the SDLT anti-avoidance provision in FA 2003, ss 75A – 75C and the recent case law relating to that anti-avoidance provision
- Details of HMRC's revised procedures for SDLT, stamp duty and SDRT as a result of the Covid-19 pandemic
- A summary of the temporary changes made to the SDLT, LTT and LBTT rates and bands for residential property by the UK, Welsh and Scottish governments

Including numerous examples, with references to legislation, case law and HMRC guidance throughout, this is a practical handbook for those working in tax advisory firms and tax departments of corporate groups and other major investors in UK property and companies. It is also a useful study aid for students and trainees studying for membership of professional bodies.

Table Of Contents

Chapter 1 Introduction to Stamp Taxes
Chapter 2 Scotland – Land and Buildings Transaction Tax
Chapter 3 Wales – Land Transaction Tax
Chapter 4 SDLT – General Rules
Chapter 5 SDLT Reliefs
Chapter 7 SDLT and Partnerships
Chapter 8 SDLT Administration and Compliance
Chapter 9 SDLT Anti-Avoidance Rules
Chapter 10 Stamp Duty – General Rules
Chapter 11 Stamp Duty Reliefs
Chapter 12 Stamp Duty Reserve Tax (SDRT)
Chapter 13 Planning, Pitfalls and Legacy Liabilities
Appendix A Addresses, Contact Details, etc
Appendix B Sample Forms, etc
Appendix C Stamp Taxes – HMRC Revised Procedures as a Result of Covid-19 (Coronavirus)

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