LBTT Update

In this session we looked at the overage and LBTT - how is it taxed and applying to defer the tax, reliefs for house builders, and the developer substantial performance rule, the Prudential decision - when can build costs be kept out of LBTT and an overview of development sub sale relief, and some common mistakes.

• overage and LBTT – how is it taxed and applying to defer the tax;
• reliefs for house builders, and the developer substantial performance rule;
• the Prudential decision – when can build costs be kept out of LBTT; and
• an overview of development sub sale relief, and some common mistakes.