LBTT Autumn Update

The latest LBTT webinar provided some essential tax updates for real estate practitioners, looking at recent tax cases as well as reviewing and clarifying a tricky area of LBTT.

Isobel d'Inverno and Bob Langridge discussed:

• more group relief grief? A quick overview of the Tower One St George Wharf Limited SDLT case, which looks at when a group relief claim may be denied by HMRC. Similar provisions exist in LBTT and this case is a useful spotlight on how tax planning mission creep can backfire; and
• transitional leases. Revenue Scotland published revised guidance around the transitional LBTT rules in May 2022. The webinar will explain and clarify how the LBTT rules apply to pre-LBTT leases and lease regears, as well as looking at the planning opportunities around lease extensions and variations.