Roger Margand, Partner at Spire Solicitors LLP Stamp Duty and mixed use properties.
Any business buying or selling mixed use properties will be aware that the Stamp Duty Land Tax charge on commercial properties is different rates to those charged on residential properties.
They will also be aware there is considerable confusion over the definitions used in different parts of the law in relation to Stamp Duty Land Tax over what commercial is and what residential is and details relating to completion of occupation of buildings, planning statement and the treatment of land associated with buildings where the building has both a commercial and residential use.
There may be some light in the darkness on this particular subject as the Chartered Institute of Taxation is in discussion with HMRC in a bid to iron out some of the uncertainties and a consultant process is now in place with a view to issuing revised guidance in the near future.
We will be keeping an eye on this and reporting when available and it is our hope that it clarifies an area where there still is a lot of uncertainty.