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Disclosure of Stamp Duty Land Tax SDLT Schemes


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Issued 25th Feb 2010

The Pre-Budget Report 2009 announced that regulations would be introduced to extend the Tax Avoidance Disclosure Regime to require the disclosure of certain Stamp Duty Land Tax concerning residential property with a value of at least 1 million. It also announced that users of all disclosed Stamp Duty Land Tax schemes, for both commercial property and residential property schemes, will be required to report the use of the scheme back to HM Revenue & Customs (HMRC). Regulations implementing these changes will come into effect on 1 April 2010 and will be published when available on the Office of Public Sector Information (Opsi) website.

The Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2010 (SI 2010/409) (PDF ) (Opens new window) prescribe the descriptions of schemes that must be disclosed.

The Avoidance Schemes (Information) (Amendment) Regulations 2010 (SI 2010/410) (PDF ) (Opens new window) prescribe the information that must be provided to HMRC by persons who have used a disclosed Stamp Duty Land Tax avoidance scheme and the period within which that information is to be provided.

Guidance on the Disclosure of Tax Avoidance Schemes (PDF 292K) is now published alongside these regulations.

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Article Published/Sorted/Amended on Scopulus 2010-02-28 15:56:09 in Tax Articles

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