Simon Howley looks at the treatment of consideration in kind for stamp duty lax purposes.
This third and final article in the series considers what can be classed as consideration in kind for the purposes of stamp duty land tax (SDLT), and in particular where land is exchanged for services provided (all legislative references are to Finance Act 2003, unless otherwise stated).
In Part 2, I detailed the issues surrounding consideration in kind where there was an exchange of land assets for land acquired. The position is further complicated where there is an exchange of land for services other than building works, and where consideration is services which are building works.
No SDLT unless the works are consideration
Before we get into the complexities of this part of the legislation, it must be understood that there can only be any question ofâ¯SDLTâ¯on works if
