The WLR Daily case summaries
[2024] WLR(D) 72
Court of Appeal
Brown and another v Revenue and Customs Commissioners
[2024] EWCA Civ 92
2024 Jan 31; Feb 8
Sir Andrew McFarlane P, Lewison, Males LJJ
Revenue— Stamp duty land tax— Sub-sale relief— Taxpayers setting up company and subscribing for shares— Company buying house— Company reducing share capital and then transferring house to taxpayers as distribution in specie— Whether “consideration” for distribution— Whether taxpayers liable to pay stamp duty land tax—
Finance Act 2003 (c 14), s 45(3)(b)(i)