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Mary Ashley#162

Mary Ashley

Old Square Tax Chambers

I have extensive experience advising in all areas of personal taxation. I have recently advised on SDLT, inheritance tax, capital gains tax, domicile, de-enveloping, the variation of trusts and off-shore trusts. I am the co-author of the 11th edition of Taxation of Charities and Non-Profit Organisations.

Contributed to

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A buyer is buying the freehold of a property that is comprised of a ground floor shop (subject to a long lease at a peppercorn rent) and a first floor flat. There is no value in the ground floor shop to the landlord. The price paid is to be attributed to the freehold of the flat. As the freehold is mixed use, does it avoid the 3% surcharge?
A buyer is buying the freehold of a property that is comprised of a ground floor shop (subject to a long lease at a peppercorn rent) and a first floor flat. There is no value in the ground floor shop to the landlord. The price paid is to be attributed to the freehold of the flat. As the freehold is mixed use, does it avoid the 3% surcharge?
Q&As
A company is buying a plot of land with a single residential house on it, but is intending (and has planning permission) to demolish the house and construct two residential houses. Will the acquisition be treated as residential for the purposes of Tables A and B (contained in section 55 of the Finance Act 2003), and a dwelling for the purposes of the 3% higher rates of SDLT?
A company is buying a plot of land with a single residential house on it, but is intending (and has planning permission) to demolish the house and construct two residential houses. Will the acquisition be treated as residential for the purposes of Tables A and B (contained in section 55 of the Finance Act 2003), and a dwelling for the purposes of the 3% higher rates of SDLT?
Q&As
A person is the beneficiary of a bare trust under which a property is held. The property is to be transferred to the beneficiary from the trustees. However, the property is subject to debts which will be assumed by the beneficiaries. Is stamp duty land tax payable on the assumption of debts (capped at the market value of the property)?
A person is the beneficiary of a bare trust under which a property is held. The property is to be transferred to the beneficiary from the trustees. However, the property is subject to debts which will be assumed by the beneficiaries. Is stamp duty land tax payable on the assumption of debts (capped at the market value of the property)?
Q&As
A property is owned by a husband and wife, and a company gave money to contribute towards the purchase. If the money is then not repaid and there is a declaration of trust to give a share of the property to company, would there be stamp duty land tax and capital gains tax issues?
A property is owned by a husband and wife, and a company gave money to contribute towards the purchase. If the money is then not repaid and there is a declaration of trust to give a share of the property to company, would there be stamp duty land tax and capital gains tax issues?
Q&As
An individual is transferring a residential property (subject to an existing charge) to a company, of which they are sole director. The company and the director will covenant to pay the mortgage but there is no other consideration. Will stamp duty land tax (SDLT) be payable by reference to the market value of the property and/or the assumption of debt and will the higher 3% rates of SDLT apply?
An individual is transferring a residential property (subject to an existing charge) to a company, of which they are sole director. The company and the director will covenant to pay the mortgage but there is no other consideration. Will stamp duty land tax (SDLT) be payable by reference to the market value of the property and/or the assumption of debt and will the higher 3% rates of SDLT apply?
Q&As
Can a bonus issue of shares in which only one class of shares held by one shareholder benefits, fall within the reorganisation rules in section 126 of the Taxation of Chargeable Gains Act 1992?
Can a bonus issue of shares in which only one class of shares held by one shareholder benefits, fall within the reorganisation rules in section 126 of the Taxation of Chargeable Gains Act 1992?
Q&As
Can you claim multiple dwellings relief (MDR) for SDLT where a property includes a main house and a granny annex within the same grounds? Can you claim MDR and also rely on the subsidiary dwelling exemption to avoid the 3% higher rates (assuming nothing else triggers the higher rates)? If MDR has not been claimed but is available, what procedure should be followed to obtain a refund of any overpaid tax?
Can you claim multiple dwellings relief (MDR) for SDLT where a property includes a main house and a granny annex within the same grounds? Can you claim MDR and also rely on the subsidiary dwelling exemption to avoid the 3% higher rates (assuming nothing else triggers the higher rates)? If MDR has not been claimed but is available, what procedure should be followed to obtain a refund of any overpaid tax?
Q&As
Does a share buyback attract stamp duty?
Does a share buyback attract stamp duty?
Q&As
If an individual has claimed multiple dwellings relief (for stamp duty land tax (SDLT) purposes) for a house and a granny annex, can they reclaim the 3% SDLT surcharge on both the house and the granny annex if they are replacing their main residence?
If an individual has claimed multiple dwellings relief (for stamp duty land tax (SDLT) purposes) for a house and a granny annex, can they reclaim the 3% SDLT surcharge on both the house and the granny annex if they are replacing their main residence?
Q&As
If you paid the higher 3% stamp duty land tax (SDLT) rates for additional properties at the time of purchase and then subsequently become eligible for a refund, yet fail to claim a refund within 12 months of whichever comes later out of the sale of the previous main residence or the filing date of the SDLT return relating to the new residence, is it possible to recover the higher 3% rate paid by claiming overpayment relief?
If you paid the higher 3% stamp duty land tax (SDLT) rates for additional properties at the time of purchase and then subsequently become eligible for a refund, yet fail to claim a refund within 12 months of whichever comes later out of the sale of the previous main residence or the filing date of the SDLT return relating to the new residence, is it possible to recover the higher 3% rate paid by claiming overpayment relief?
Q&As
In the context of charities relief from stamp duty land tax (SDLT) and specifically, the meaning of qualifying charitable purpose in paragraph 1 of Schedule 8 to the Finance Act 2003 what does ‘an investment from which the profits are applied to the charitable purposes of the purchaser’ mean in practice?
In the context of charities relief from stamp duty land tax (SDLT) and specifically, the meaning of qualifying charitable purpose in paragraph 1 of Schedule 8 to the Finance Act 2003 what does ‘an investment from which the profits are applied to the charitable purposes of the purchaser’ mean in practice?
Q&As
Is stamp duty payable on a freehold purchase where two long leaseholders have exercised their right to purchase the freehold through collective enfranchisement under the Leasehold Reform, Housing and Urban Development Act 1993? For one of the long leaseholders it is their only home. The other long leaseholder owns another property.
Is stamp duty payable on a freehold purchase where two long leaseholders have exercised their right to purchase the freehold through collective enfranchisement under the Leasehold Reform, Housing and Urban Development Act 1993? For one of the long leaseholders it is their only home. The other long leaseholder owns another property.
Q&As
Is stamp duty reserve tax (SDRT) payable on the transfer of a beneficial interest in shares where the legal interest is not being transferred?
Is stamp duty reserve tax (SDRT) payable on the transfer of a beneficial interest in shares where the legal interest is not being transferred?
Q&As
What is the SDLT position where four properties (1, 2, 3 and 4) which are each held on bare trust for four beneficiaries (A, B, C and D) equivalent to a 25% interest each are transferred so that A acquires a 100% interest in property 1, B acquires a 100% interest in property 2, etc?
What is the SDLT position where four properties (1, 2, 3 and 4) which are each held on bare trust for four beneficiaries (A, B, C and D) equivalent to a 25% interest each are transferred so that A acquires a 100% interest in property 1, B acquires a 100% interest in property 2, etc?
Q&As
What is the value added tax status of a residential development with a small element of commercial units?
What is the value added tax status of a residential development with a small element of commercial units?
Q&As
When claiming multiple dwellings relief for stamp duty land tax for a property with a main house and a granny annex within the same grounds, if the granny annex is ‘subsidiary’ to the main dwelling under section 128(5) of the Finance Act 2016 does the higher 3% rate apply?
When claiming multiple dwellings relief for stamp duty land tax for a property with a main house and a granny annex within the same grounds, if the granny annex is ‘subsidiary’ to the main dwelling under section 128(5) of the Finance Act 2016 does the higher 3% rate apply?
Q&As
When establishing whether transactions are linked for stamp duty land tax purposes, HMRC guidance directs us to section 1122 of the Corporation Tax Act 2010. Are limited liability partnership’s covered by this definition?
When establishing whether transactions are linked for stamp duty land tax purposes, HMRC guidance directs us to section 1122 of the Corporation Tax Act 2010. Are limited liability partnership’s covered by this definition?
Q&As
Where a buyer adds upgrades to the specification of their new-build property (a better kitchen for example) do the cost of those upgrades attract stamp duty land tax? Is the situation altered where the upgrades are dealt with outside of the contractual provisions and conducted direct between buyer and builder as a separate negotiation and without being reflected in the purchase price?
Where a buyer adds upgrades to the specification of their new-build property (a better kitchen for example) do the cost of those upgrades attract stamp duty land tax? Is the situation altered where the upgrades are dealt with outside of the contractual provisions and conducted direct between buyer and builder as a separate negotiation and without being reflected in the purchase price?
Q&As
Where a developer is selling the freehold of a site for a consideration of cash plus a leaseback of part, is the stamp duty land tax (SDLT) exemption on sale and leaseback applicable?
Where a developer is selling the freehold of a site for a consideration of cash plus a leaseback of part, is the stamp duty land tax (SDLT) exemption on sale and leaseback applicable?
Q&As
Where A transfers Blackacre (value £1.5m) to B and in exchange B transfers Whiteacre to A (value £1m) how is stamp duty land tax (SDLT) calculated under paragraph 5 Schedule 4 to the Finance Act 2003 where the exchange is a negotiated commercial transaction between third parties? Can an exchange in these circumstances be treated as including an element of gift or will A and B both pay SDLT on £1.5m?
Where A transfers Blackacre (value £1.5m) to B and in exchange B transfers Whiteacre to A (value £1m) how is stamp duty land tax (SDLT) calculated under paragraph 5 Schedule 4 to the Finance Act 2003 where the exchange is a negotiated commercial transaction between third parties? Can an exchange in these circumstances be treated as including an element of gift or will A and B both pay SDLT on £1.5m?
Q&As
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Practice Area

Panel

  • Q&A Panel

Qualified Year

  • 2015

Membership

  • Grays Inn
  • Revenue Bar Association
  • Chancery Bar Association
  • Association of Women Barristers
  • Society of English and American Lawyers
  • American Woman Lawyer in London

Education

  • Oxford BA (Hons) 2010
  • Oxford BCL 2012
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