The Weekly Law Reports
[2023] 4 WLR 11
Upper Tribunal
Brown and another v Revenue and Customs Commissioners
[2022] UKUT 298 (TCC)
2022 Oct 5; Nov 14
Trower J, Upper Tribunal Judge Timothy Herrington
Revenue— Stamp duty land tax— Sub-sale relief— Appellants setting up company and subscribing for shares— Company buying house— Company reducing share capital and then transferring house to appellants on distribution in specie— Whether “consideration” for distribution— Whether appellants liable to pay stamp duty land tax—
Finance Act 2003(c 14), s 45(3)(b)(i)(ii)