SDLT for Commercial Property Lawyers - An Advanced Guide with Paul Clark

Introduction

Non-residential rates of SDLT remained constant until 2016 when they became progressive and were increased. Dealing with linked transactions has, as a result, become more complicated.

Although SDLT on rent has been around since 2003, some of the rules are not well understood, especially in relation to overlap relief, and there were major changes in 2013, not all of which have yet found their way into the SDLT Manual.

Partnership SDLT has never been well understood and few practitioners understand the rules relating to trusts.

This advanced course assumes that you understand basic SDLT principles, including contract and conveyance, identifying land transactions, subsales, linked transactions, exchanges, chargeable consideration, exempt transactions and land transaction returns.

What You Will Learn

This course will cover the following:

• Transactions and Chargeable Consideration
• Issues around options, overage, linked transactions and deemed market value
• The carrying out of works as chargeable consideration
• The complex connection rules for companies
• Why some knowledge of residential SDLT is critical for commercial practitioners
• Reliefs - A Selection
• Group relief
• Charity relief
• Sale and leaseback exemption
• Part-exchange and similar reliefs
• Leases
• A detailed review of SDLT on leases and lease variations
• How to calculate the tax accurately and apply overlap relief
• Holdover and lease renewal
• Partnerships and Trusts
• A review of the partnership rules in FA03/SCH15
• A review of the trust rules in FA03/SCH16
• Case Studies