MAS Fabrics Hong Kong Ltd v Revenue and Customs: FTTTx 20 Apr 2021

Property Bought By International Company)

Stamp Duty Land Tax – property bought by international company – solicitor calculated tax at 7% rate – HMRC opened enquiry – property occupied by non-qualifying individuals- solicitors eventually accepted 15% rate was correct – HMRC raised penalty for carelessness – solicitor’s instructions not produced – unsatisfactory evidence of company being asked/checked about who would occupy property – appeal against penalty dismissed.

[2021] UKFTT 116 (TC)
England and Wales

Stamp Duty

Updated: 09 November 2021; Ref: scu.663690