Stamp Duty Land Tax

UK transactions, not previously subject to stamp duty, are now chargeable under a complex regime supported by a whole range of penalties including criminal sanctions involving imprisonment and/or heavy fines for errors in completing the required returns and breaches of the requirements for record keeping. The new regime requires changes in UK conveyancing practice and involves new issues for client relationships. This second edition will assist property and tax professionals in answering the following questions: --- How does a UK taxpayer claim a relief or exemption or reclaim overpaid tax? --- When can the Revenue enquire into a transaction, and under what circumstances can they re-open a transaction after 21 years? --- Are there any differences between UK residential and commercial conveyancing in relation to stamp duty? --- What has happened to subsale relief and resting on contract? --- What is the current regime for tax on rents, and why does it increase the tax on seven-year leases by a factor of 5? --- When does the new partnership regime still impose tax upon changes of partner?