Sergeant & Sims on Stamp Taxes is referred to in preference to any other work in correspondence with the Stamp Office and is the usual authority to be cited in courts. Sergeant and Sims on Stamp Duties is the most comprehensive, up-to-date and authoritative guide to stamp duties and stamp duty reserve tax available. The work provides practitioners with guidance on the methods to employ in order to ensure that they take advantage of every tax-saving opportunity and do not incur penalties for late stamping. The work comprises all current relevant legislation, whilst the detailed commentary provides expert guidance particularly on the more complex areas. It includes coverage of the new stamp taxes regime established under the Finance Act 2003 along with text of relevant statements of practice, interpretations, press releases, extracts from Hansard, examples of Stamp Office forms and useful contact details.

SOURCE CURRENCY
Issue 47, February 2024

Issue 47 updates the publication to reflect developments since Issue 46 (July 2023).
So far as material and in no particular order, the relevant changes include:

UPDATE INFORMATION

Division A—Commentary: Securities

Regulations to remove the 1.5 per cent stamp duty and SDRT higher rate charges on issues of securities into depositary receipt systems and clearance services and on certain capital-raising transfers..

Division AA—Commentary: Land

The decisions of the First-tier Tribunal for Scotland on the additional dwelling supplement in Stephen McCarter and Alexander Duran.

The decision of the First-tier Tribunal in Henderson Acquisitions on the meaning of ‘suitable for use’ in the context of a derelict dwelling.

The decisions of the First-tier Tribunal in Thomas Kozlowski, Della Bloom, Espalier Ventures Property (Landsdowne Road) Ltd, Sangeeta Modga, James Gibson, Landmaster Investment Ltd on mixed-use.

The decision of the First-tier Tribunal in Jonathan Ralph on the meaning of ‘suitable for use’ in the context of multiple dwellings relief.

The decisions of the First-tier Tribunal in Caleb Halstead, L-L-O contracting Ltd and Warner — strike out applications on late claims for multiple dwellings relief.

The decisions of the First-tier Tribunal in Nellsar Ltd on goodwill.

The decisions of the First-tier Tribunal in Mrs EF Brosch and Ors on the validity of discovery assessments in the context of SDLT avoidance schemes.

The decisions of the First-tier Tribunal in Marie Guerlain-Desai on making a late appeal.

The apparent view of HMRC to refuse freeport relief in forward funded development arrangements.

Division AB—Commentary: ATED

The new ATED chargeable amounts for 2024—25.

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