Charities get SDLT concession on jointly owned land
Stamp duty land tax (SDLT) received a mention in the Chancellor’s autumn statement last week; Finance Bill 2014 draft clauses published earlier today added more meat to the bones.
As suggested in the autumn statement, the new legislation confirms that partial relief from SDLT is available where a charity purchases an interest in land jointly, as tenants in common, with a non-charity purchaser.
As highlighted in a new overview of the proposed legislation, charities will be able to claim relief on the proportion of the purchase attributable to it.
The change will...