Website Cookie Policy

We use cookies to give you the best possible online experience. If you continue, we’ll assume you are happy for your web browser to receive all cookies from our website.
See our cookie policy for more information.

Practice Areas

More Information

thepartners@wrigleys.co.uk

Leeds: 0113 244 6100

Sheffield: 0114 267 5588

FOLLOW WRIGLEYS:

Send us an enquiry
Close

Will cohousing groups need to pay more tax?

22 January 2016

Respond to the consultation on changes to SDLT before 1 February 2016.

The government is currently undergoing a consultation on changes to SDLT.  SDLT is the tax which is paid by the buyer when property is purchased.    One of the proposed changes is that a corporate vehicle (such as a company) would pay a higher rate of SDLT when purchasing its first residential property.  This would mean that cohousing groups who buy existing residential property for development would need to pay more tax on the purchase.

It would mean an extra 3% on the purchase price would need to be paid to the government for the additional SDLT charge.  For example, for a residential property costing £750,000, the SDLT payable would increase from £27,500 to £50,000. 

Wrigleys has drafted a suggested response to the consultation. Please contact us for a copy.

Responses should be emailed to sdltadditionalproperties@hmtreasury.gsi.gov.uk by 1 February 2016, when the consultation closes.  We recommend you submit it by 31 January 2016 to make sure your response is received in time.

For more information about Wrigleys' advice in this area, please click here

 

Laura Moss View Biography

Laura Moss

Partner
Leeds

Emma Ridge View Biography

Emma Ridge

Partner
Leeds

08 Nov 2024

Charity fundraising reforms dropped in revised Data Protection reform bill

Reforms designed to make it easier for charities to send marketing via email to existing donors have been dropped from the Data (Use and Access) Bill.

08 Nov 2024

What does the budget mean for charities?

We highlight some of the key considerations for the charity sector.

07 Nov 2024

Release of Reverse Indemnity - BJB [2024] EWCOP 59 (T2)

Reverse Indemnities – what have they got to do with the Court of Protection.