Categories:Tax,UK

A chance to reclaim some overpaid tax

Have you bought an investment property in the last four years? Was the transaction effected by the grant of a long lease for a premium? If the answer to the above questions is ‘yes’, you may well be able to reclaim some tax.

Until the outcome of a tax case last year, HM Revenue and Customs (HMRC) had taken the view that transfer of a business as a going concern (TOGC) treatment was not available on a sale of a let property which was effected by way of the grant of a long lease at a nominal rent (often with the result that VAT had to be paid on the sale). Where VAT was payable on the sale, Stamp Duty Land Tax (SDLT) also had to be paid on the VAT element of the price…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • merger deal

    Corporate crunch time: who will triumph at The Lawyer Awards 2014?

    As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014. 

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

View more analysis from The Lawyer

Overview

5 New Street Square
London
EC4A 3TW
UK
http://www.taylorwessing.com

Turnover (£m): 228.00
No. of lawyers: 860
Jurisdiction: UK
No. of offices: 4
No. of qualified lawyers: 67 (International 50)

Jobs