This popular and authoritative book has been fully revised to take account of the implementation of Stamp Duty Land Tax. The new system has involved a move from a voluntary tax on documents to a self-assessment tax on land transactions enforced by criminal sanctions. This book gives practitioners a practical guide to Stamp Duty Land Tax and its implications, highlighting pitfalls and suggesting how to avoid them. It includes substantial sections on the role of the professional in investigations of title, due diligence, valuation and assisting the client in completing the return. In addition, it offers: detailed notes on completing the form; routine conveyancing issues that may affect the timing and amount of tax; practical issues for mortgagees and lenders; illustrations of how to calculate the tax on rent; notes on drafting matters; and, indicators and checklists on warranties.
Table of Contents
1. Introduction and general principles; 2. Chargeable transactions; 3. Taxable events - effective date; 4. Computation of tax; 5. Exemptions and reliefs; 6. Options and rights of pre-emption; 7. Exchanges and partitions; 8. Leases; 9. Construction, fitting out and other "works"; 10. Trusts, wills and intestate estates; 11. Partnerships; 12. Corporate transactions; 13. Liability for the tax; 14. HMRC powers and enforcement; Appendices: A. Land areas for investigation; B. Particular problems for the vendor; C. Share purchase issues for investigation; D. Completing the tax return.
Reg Nock is a barrister at 15 Old Square and a leading authority on stamp duty. He regularly gives seminars for solicitors on stamp duty. Reg's publications include Monroe and Nock on the Law of Stamp Duties, Stamp Duties for Property Transactions, and Stamp Duty Land Tax: The New Law.