HM Revenue & Customs (HMRC) is consulting on amendments to the Stamp Duty Land Tax (SDLT) rules. The changes aim to stop sales of SDLT avoidance schemes that try to rely on the 'transfer of rights' or 'subsale' provisions in section 45 of the Finance Act 2003. The consultation closes on 9 October 2012.
Download the consultation
HMRC has also published two draft regulations that amend the SDLT Disclosure of Tax Avoidance Scheme rules. The proposed changes include removal of the 'grandfathering' rule for certain avoidance schemes that use 'transfer of rights' legislation and removal of the transaction value thresholds for disclosure. The regulations also update the list of excluded arrangements and modify the application of section 308 of the Finance Act 2004.
Further information can be found on HMRC's website