Chapter SDLTM27076

Published date19 March 2016
Record NumberSDLTM27076

Where a market value election is not made, stamp duty land tax on the declaration of a shared ownership trust is charged on the basis that the initial capital is treated as consideration other than rent and rent-equivalent payments are treated as payments of rent.

Equity-acquisition payments, and the consequent increases in the purchaser’s beneficial interest, are exempt from charge if, following the increase, the purchaser’s beneficial interest does not exceed 80% of the total beneficial interest in the trust property.

Such payments and consequential increases are chargeable to SDLT if, following the increase,

  • the purchaser’s beneficial interest exceeds 80% of the total beneficial interest in the trust property, or
  • an...

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