1. General news
1.1. SDLT on purchase of a chargeable interest by joint
purchasers using a bare trustee
The Pollen Estates Trustee Company Ltd (PETCL) and Kings College
London (KCL) was a case concerning an appeal against decisions made
by HMRC where charities relief was denied in respect of the portion
of a joint interest purchased by a charity via a bare trustee
acting for the whole purchase.
PETCL had previously appealed to the First-tier Tax Tribunal
(FTT) against the decision made by HMRC in its Closure Notice dated
16 February 2010 issued under paragraph 23 of schedule 10 to the
Finance Act 2003 following the enquiries HMRC had made into the
land transaction returns made by PETCL in respect of the
acquisition of four properties in London. The FTT decision was to
refuse PETCL's claim for repayment of a proportion of the SDLT
which PETCL had already paid in respect of these acquisitions. The
basis of the claim for repayment was that as PETCL was acting
