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Latest developements. HMRC wins Stamp Duty tax case Mortgage Solutions | 21 Sep 2012 | 09:50 Nicola Brittain Her Majesty's Revenue & Customs (HMRC) has won a court case defeating a widely-used scheme to avoid stamp duty land tax (SDLT). inShare.0The case was taken against Vardy Property...

So Osborne saying he would close these loopholes was lying ?

I guess so. I think the people who have got the letters would have referred them to their lawyers.

I was not having a pop at ILOVEBHA. I admire people who get out and make a living for themselves and really wanted some advice on what to tell my 2 clients. Is this scheme dead in the water for their new £ 1m purchase ? I think it will be hard for the government to get any of the money back...

Stamp Duty starts at 1% on properties over £125,000, rising to 5% on homes over £1m but it can currently be avoided by buying the property through an offshore company. In October, HMRC said it was chasing 1,200 people for £35m in lost revenues because of avoidance of the levy. That's just under...

I am not trying to call ILOVEBHA on this but need some advice. My clients are buying at over £ 1m and when I asked if they had heard of this scheme they said " yes we did it last time and now the IR have written to us demanding the money back " WTF happens to the firms that did these transactions ?

Here is the article. Budget: Osborne pledges 'aggressive' measures on stamp duty avoidanceGeorge Osborne: "People have had their warning, they have got to pay stamp duty on the homes they live in" Chancellor George Osborne has confirmed he will be "coming after" stamp duty avoidance with...

What I am questioning which I hoped ILOVEBHA could comment on is can the government and IR came after this tax for property purchases that have completed that has been avoided with this loophole and if so how may years back can they go or is the loophole being closed for new purchases. The fact...

I am glad to say none of my clients did it. Not that I have many buying at 500k - £ 1 maybe 1 or 2 a year. I did refer one client a few years back but he was put off by the onerous paperwork. The clients I am speaking to have been written to demanding the stamp duty plus interest.

Osborne has stated he is coming after the people who avoided stamp duty on purchases over £ 500k. I know of a client who did this and has been written to demanding the money back plus interest. Osborne intends not only to claw the money back but to add punitative charges on top. Can they do this...

Latest. There was an interesting piece in the Times last month. 1/3 of people who buy over £ 500k have avoided stamp duty to date. The Treasury is to clamp down on people who attempt to avoid paying Stamp Duty on property transactions by setting up offshore companies in tax havens. Today, as...

Tax avoidance is a risky area imo. A wonder what the letter from HMRC says " where's our stamp duty you f*cking cheats ? ".

The mortgage trade magazine, Mortgage Strategy HMRC chasing £35m in Stamp Duty avoidance 28 October 2011 | By Paul Thomas HM Revenue & Customs is chasing 1,200 people who have used stamp duty avoidance schemes to avoid paying the tax, costing the government £35m in tax revenues. Earlier this...

I am not having a go at you. If you offer a service and the clients know all the ins and outs good luck to you.

My opinion is that with tax revenues devastated in recent years and the state the country is in, there will be a very hard line used on anyone and anything that tries to avoid paying taxes. It is not beyond the realms of possibility retrospective legaslation may be passed and people who avoided...

In today's industry trade magazine , Mortgage Strategy Home Economy .Beware of Stamp Duty avoidance schemes, says law firm 24 October 2011 | By Natalie Thomas Law firm Boodle Hatfield says it is seeing a growing number of people turning to schemes that offer ways to avoid paying Stamp Duty...

I am not taking any high moral ground. Today you have to look at every possible thing to make money. Its just something I have decided not to pursue. Good luck anyway. I am not questioning you or your companies integrity. If the client makes an informed decision with all the facts, thats their...

As it happens I did bring it to the attention of people. I however decided not to get involved and no one through NSC did anything with me on this. As business conditions have been off the wall bad for 4 years I have looked into every opportunity to make money from things outside the box and...

I have had several firms contact me with regard to this. I gave the details to one client who did their mortgage through me but they got uneasy about all the stuff they were asked to do, and the upfront fees etc so decided not to go ahead. One other client did it themselves and I will check...

I am not commenting on his firm but usually what happens is when the shit hits the fan the company folds / goes bankrupt and the directors are untraceable.