Property Tax Lawyers

Taxes for residential property have become increasingly complicated, particularly with the higher rates of stamp duty land tax for additional properties: the 3% surcharge. The extra tax can apply not only to second homes, but also sometimes to a property being bought as an only or main residence for the buyer.

We are familiar with other stamp taxes complications including: - First time buyers' relief; - The proposed 1% surcharge on non-resident buyers; - The special issues with properties bought by companies such as the flat rate of 15% and the reliefs available; The special treatment of social landlords such as housing associations; - Staircasing transactions for shared ownership leases; - Lease extensions and enfranchisements and Prudential structures where a plot is bought with a separate contract for carrying out the building work after the land is transferred.

Our property tax lawyers advise on other complex aspects which tend to apply to commercial properties and issues such as transactions involving development of land, overage payments; taxes on mixed use properties such as farms; sale and leaseback transactions; variation, surrenders and regrants of leases; group relief for transactions between companies and property going in or out of a partnership agreement.

Wales has had its own separately administered stamp tax on property transactions since 1 April 2018. The rates of tax are different from SDLT. Whilst the design of LTT is similar to that of SDLT, there are important differences. Our property tax lawyers can help advise on these changes as we have stamp tax specialists with experience of LTT.