Fanning v Revenue and Customs Comrs

Subject Matter

REVENUE — Stamp duty land tax — Land transaction — Taxpayer participating in subsale relief tax avoidance scheme involving purchase of property and executing deed granting option to purchase to third party – Revenue determining scheme ineffective and issuing discovery assessment in respect of stamp duty land tax payable on purchase of property – Whether grant of option being “other transaction” within meaning of statutory scheme – Whether tax avoidance scheme effective – Finance Act 2003 (c 14), s 45(1)(b)

[2022] UKUT 21 (TCC); [2022] STC 256, UT

REVENUE — Stamp duty land tax — Conveyance or transfer on sale — Taxpayer on same day entering into contract to purchase property and contract granting third party option to purchase property — Whether grant of option constituting “other transaction” so as to relieve taxpayer of liability to stamp duty land tax on purchase of property — Finance Act 2003 (c 14), ss 44, 45

[2023] EWCA Civ 263; [2023] 1 WLR 2853; [2023] 4 All ER 66; [2023] STC 660; [2023] WLR(D) 126, CA

Appellate History