Richard Curtis highlights a recent case where a substantially increased stamp duty land tax liability illustrated the importance of reviewing all the circumstances of a land transaction.
Stamp duty land tax (SDLT) is often criticised as a discouragement to house sales, with numerous rates and conditions leading to confusion.
The recent decision of the First-tier Tribunal (FTT) in Mayfair Avenue Ltd [2024] UKFTT 430 (TC) illustrates that the best-laid plans when negotiating property transactions can result in unexpected SDLT liabilities.
The Mayfair Avenue house
Mr Ali and his family had lived in their main residence, 94 Mayfair Avenue, for more than ten years, but required a larger property. Mr Ali put Mayfair Avenue on the market and began looking for a replacement home. As is common in such matters, the proposed sale of the existing home and the purchase
