HMRC wins £68m stamp duty land tax case

HM Revenue & Customs (HMRC) has successfully challenged a stamp duty land tax avoidance scheme, protecting some £68m of taxpayers' money.

The Court of Appeal ruled a company that purchased a property on London's Regent Street, then sold the leasehold interest to a partnership in which it had a 98% interest, would not be exempt from paying the tax. All the scheme had achieved was to shift the obligation to pay SDLT from the company to its partnership, the court decided. David Gauke, Exchequer Secretary to the Treasury, said: "This case shows HMRC will challenge the designers of tax avoidance schemes, and those who use them, taking them to the highest court in the land if necessary. "This is another excellent win that ...