HMRC has won a key case defeating a widely-marketed scheme to avoid Stamp Duty Land Tax (SDLT). Subject to appeal, the decision could save more than £170 million in tax revenues.
Regulations have also been laid before Parliament that will force users of a wider range of SDLT avoidance schemes to disclose them to HMRC.
HMRC’s Director General of Business Tax said “People who are tempted by tax advisers to enter into avoidance schemes should think twice” and described some of the schemes as “just too good to be true.”
HMRC’s press release can be found here