Stamp Duty Land Tax (SDLT) and AETD

Due to the abuse of the SDLT rules over the past decade, it is no surprise that SDLT is within the DOTAS (Disclosure of Tax Avoidance Schemes) legislation and is also included in the GAAR (General Anti-Abuse Rule) legislation in Finance Act 2013, effective from 17 July 2013.

SDLT is a land-based transaction, but can also be triggered by the unwary on the transfer of a debt, the incorporation of a business, transferring property into and out of corporate ownership, the transfer property between connected parties, and the change on a partnership share.

The annual tax on enveloped dwellings (ATED) is a tax payable by companies and other corporate bodies (partnerships with corporate partners or other collective investment vehicle) that own UK residential property valued at over £500,000.

The tax is charged for the chargeable period concerned. Chargeable periods are the period beginning 1 April and ending with the following 31 March.

A CGT charge on ATED-related gains was introduced alongside the ATED charge. However, all disposals of UK land by non-residents fall within the charge to capital gains tax (individuals and trustees) or corporation tax (companies) from 6 April 2019.

Our tax team can guide you through this complex tax area.

For further information please download our e-brochure. Or to arrange a free introductory meeting, please contact us on +44 20 7129 1432

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