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Blick Rothenberg

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Sean Randall
Sean Randall
Blick Rothenberg
Tim Shaw
Tim Shaw
Blick Rothenberg
Contributions by Blick Rothenberg Experts

50

What are the UK tax considerations for an overseas purchaser acquiring a UK business?
What are the UK tax considerations for an overseas purchaser acquiring a UK business?
Practice notes

This Practice Note sets out the key UK tax considerations for an overseas purchaser acquiring a UK business by way of asset sale or share sale, often referred to as an inbound transaction. It considers the potential tax costs of the acquisition, the tax considerations when returning profits overseas, the tax efficiency of the target business and how such a cross-border transaction might be structured so as to mitigate UK tax costs and maximise UK tax efficiency. This Practice Note is produced in partnership with Tim Shaw of Blick Rothenberg Limited.

If a transaction under a single contract entails the sale of a property which comprises two titles of which one title is in the joint names of the vendors but the other title is in the name of only one of the vendors, is this two transactions for stamp duty land tax purposes?
If a transaction under a single contract entails the sale of a property which comprises two titles of which one title is in the joint names of the vendors but the other title is in the name of only one of the vendors, is this two transactions for stamp duty land tax purposes?
Q&As

If my application for deferral of stamp duty land tax (SDLT) has not been processed by HMRC by the time I need to submit my SDLT return, do I submit and pay SDLT on the lower price actually being paid or the higher potential consideration with the subsequent need to claim the monies back?
If my application for deferral of stamp duty land tax (SDLT) has not been processed by HMRC by the time I need to submit my SDLT return, do I submit and pay SDLT on the lower price actually being paid or the higher potential consideration with the subsequent need to claim the monies back?
Q&As

If within the period of three years from the date of acquiring a new main residence, the former main residence was transferred into a Ltd company controlled by the purchaser (100% shareholding), would the purchaser be able to claim repayment of the additional 3% SDLT paid on the new main residence?
If within the period of three years from the date of acquiring a new main residence, the former main residence was transferred into a Ltd company controlled by the purchaser (100% shareholding), would the purchaser be able to claim repayment of the additional 3% SDLT paid on the new main residence?
Q&As

If, on completing the renewal of a stamp duty land tax lease, the parties agree a new, higher rent is payable from an earlier date, should the additional rent be chargeable as premium or rent? Does the answer alter depending on whether the term of the new lease is expressed to commence on the date the new higher rent becomes payable, or only on completion of the new lease?
If, on completing the renewal of a stamp duty land tax lease, the parties agree a new, higher rent is payable from an earlier date, should the additional rent be chargeable as premium or rent? Does the answer alter depending on whether the term of the new lease is expressed to commence on the date the new higher rent becomes payable, or only on completion of the new lease?
Q&As

In what circumstances would the grant of an option and the subsequent exercise of it not be linked transactions for SDLT purposes?
In what circumstances would the grant of an option and the subsequent exercise of it not be linked transactions for SDLT purposes?
Q&As

Is a bank required to pay stamp duty land tax and submit a return when it sells a property following repossession? Is the position the same when a bank exercises its right to staircase from 50% shared ownership to 100% shared ownership simultaneously on completion of the sale to the buyer so that it sells 100% of the property to the buyer? The chargeable consideration for the staircasing is payable by the buyer at completion and there is no contract between the bank and the housing association.
Is a bank required to pay stamp duty land tax and submit a return when it sells a property following repossession? Is the position the same when a bank exercises its right to staircase from 50% shared ownership to 100% shared ownership simultaneously on completion of the sale to the buyer so that it sells 100% of the property to the buyer? The chargeable consideration for the staircasing is payable by the buyer at completion and there is no contract between the bank and the housing association.
Q&As

Is a claim for overpayment relief appropriate to rectify a previous failure to claim multiple dwellings relief or is such a claim excluded by case A(b), paragraph 34A(2) of Schedule 10, Part 6 to the Finance Act 2003?
Is a claim for overpayment relief appropriate to rectify a previous failure to claim multiple dwellings relief or is such a claim excluded by case A(b), paragraph 34A(2) of Schedule 10, Part 6 to the Finance Act 2003?
Q&As

Is a transfer of equity from one spouse to both spouses exempt from stamp duty land tax (SDLT) where the transferee spouse is assuming debt (of an amount greater than the SDLT threshold) or if not, will the higher 3% rates apply?
Is a transfer of equity from one spouse to both spouses exempt from stamp duty land tax (SDLT) where the transferee spouse is assuming debt (of an amount greater than the SDLT threshold) or if not, will the higher 3% rates apply?
Q&As

Is stamp duty payable on the sale of shares as a result of a divorce settlement?
Is stamp duty payable on the sale of shares as a result of a divorce settlement?
Q&As

Is the use of a driveway as a farm road for commercial and agricultural vehicles sufficient to allow a claim for mixed use stamp duty land tax (SDLT) rates on what is otherwise solely a dwelling?
Is the use of a driveway as a farm road for commercial and agricultural vehicles sufficient to allow a claim for mixed use stamp duty land tax (SDLT) rates on what is otherwise solely a dwelling?
Q&As

Is there any potential stamp duty land tax payable as a result of entering into a deed of release/variation of a restrictive covenant affecting a freehold title in return for payment of a financial consideration?
Is there any potential stamp duty land tax payable as a result of entering into a deed of release/variation of a restrictive covenant affecting a freehold title in return for payment of a financial consideration?
Q&As

It is understood that a mortgagee may transfer a loan it has and the mortgagee's estate in the legal charge under section 114 of the Law of Property Act 1925 to a connected company subject to statutory best value, etc and any court order that may be necessary without paying stamp duty land tax (SDLT). If a mortgagee transfers the loan and at the same time transfers as mortgagee in possession its right to its estate in the security by transferring the actual security (as it can do as the mortgage is in default) would SDLT be payable?
It is understood that a mortgagee may transfer a loan it has and the mortgagee's estate in the legal charge under section 114 of the Law of Property Act 1925 to a connected company subject to statutory best value, etc and any court order that may be necessary without paying stamp duty land tax (SDLT). If a mortgagee transfers the loan and at the same time transfers as mortgagee in possession its right to its estate in the security by transferring the actual security (as it can do as the mortgage is in default) would SDLT be payable?
Q&As

Land is subject to an existing 50-year overage deed and ten years have passed. The seller did not apply to HMRC to defer any stamp duty land tax (SDLT) in respect of the overage when it bought the land. Can a buyer defer payment of any SDLT that may become payable in respect of the overage now and would interest/penalties be payable for the ten years where no application was made?
Land is subject to an existing 50-year overage deed and ten years have passed. The seller did not apply to HMRC to defer any stamp duty land tax (SDLT) in respect of the overage when it bought the land. Can a buyer defer payment of any SDLT that may become payable in respect of the overage now and would interest/penalties be payable for the ten years where no application was made?
Q&As

On the purchase of two adjoining properties, one containing a residential flat and commercial unit (let on an assured shorthold tenancy (AST) and a short term business lease respectively), and the other containing two residential flats (let on ASTs), what would the purchaser's stamp duty land tax position be if they owned additional residential properties, and what would the position be if they did not?
On the purchase of two adjoining properties, one containing a residential flat and commercial unit (let on an assured shorthold tenancy (AST) and a short term business lease respectively), and the other containing two residential flats (let on ASTs), what would the purchaser's stamp duty land tax position be if they owned additional residential properties, and what would the position be if they did not?
Q&As

Party A has the benefit of four options to purchase eight-rear gardens in England and a fifth option to purchase an existing private access road. Party A intends to exercise all of the options and immediately sub-sell the land to my client. Will the transfer to my client be residential or commercial for stamp duty land tax purposes? Can my client claim multiple dwellings relief? Is there any guidance that suggests the transfer to party A is residential but the subsequent transfer to my client is commercial?
Party A has the benefit of four options to purchase eight-rear gardens in England and a fifth option to purchase an existing private access road. Party A intends to exercise all of the options and immediately sub-sell the land to my client. Will the transfer to my client be residential or commercial for stamp duty land tax purposes? Can my client claim multiple dwellings relief? Is there any guidance that suggests the transfer to party A is residential but the subsequent transfer to my client is commercial?
Q&As

What are the SDLT obligations when a lease, which was not originally notifiable for SDLT purposes, is held over, extending the duration of the lease beyond seven years?
What are the SDLT obligations when a lease, which was not originally notifiable for SDLT purposes, is held over, extending the duration of the lease beyond seven years?
Q&As

When a minor is purchasing a property through a bare trust, in what circumstances are the minor’s parents considered as either the purchaser or as having an interest in a property for the purposes of Higher Rates for Additional Dwellings for Stamp Duty Land Tax? If the minor already owns a property through a bare trust and buys another property, would the higher rates apply as the parents are already deemed to have an interest in the other property held under bare trust?
When a minor is purchasing a property through a bare trust, in what circumstances are the minor’s parents considered as either the purchaser or as having an interest in a property for the purposes of Higher Rates for Additional Dwellings for Stamp Duty Land Tax? If the minor already owns a property through a bare trust and buys another property, would the higher rates apply as the parents are already deemed to have an interest in the other property held under bare trust?
Q&As

Where a landlord and tenant are connected and section 53 of the Finance Act 2003 applies, will a variation of a lease to reduce the term of that lease from 999 years to 125 years be subject to stamp duty land tax in respect of the market value of the leasehold property or the value of the reversion as a result of the reduced term?
Where a landlord and tenant are connected and section 53 of the Finance Act 2003 applies, will a variation of a lease to reduce the term of that lease from 999 years to 125 years be subject to stamp duty land tax in respect of the market value of the leasehold property or the value of the reversion as a result of the reduced term?
Q&As

Where a landlord has agreed a reduced concessionary rent in a side letter, is stamp duty land tax payable on the rent as set out in the lease or payable on the reduced rent?
Where a landlord has agreed a reduced concessionary rent in a side letter, is stamp duty land tax payable on the rent as set out in the lease or payable on the reduced rent?
Q&As

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