Tax Question Time – Stamp Duty Land Tax
Friday March 2017
A. An interest in or over land can take many different forms and does not necessarily have to be an interest in the whole of the property. The term major interest is used here to denote a freehold or a lease which had more than seven years to run when granted. The word major is not a reference to the size of a proportionate holding. So the higher rates of tax will apply to the acquisition of a 49% share in a property if all of the other conditions are met.
Buying the property in a series of small tranches will not avoid the higher rates because of the linked transactions rules.
Published form Croner Taxwise Limited
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