HMRC has lost an appeal over stamp-duty land tax (SDLT) on the sale of the old Dickens and Jones department store in Regent Street, central London.
When the store was sold in 2006 the sub-sale to a corporation partnership meant that £2.6m of SDLT that might have been payable on the transaction was not, according to an earlier decision by the first-tier tribunal.
The upper tier tribunal (The Commissioners for HMRC and DV3 RS Limited Partnership, UKUT 399, TCC) agreed with the first-tier tribunal.
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.