|
SDLT - collective enfranchisement |
|
|
Ts with long leases (over 21 years) have a collective right to buy the freehold under Leasehold Reform, Housing and Urban Development Act 1993.
FA 2003 introduced a relief from SDLT when there is collective enfranchisement. But, that relief only applies when the enfranchisement is via a Right to Enfranchise company, as provided for in Commonhold and Leasehold Reform Act 2002. But, the catch is that the relevant parts of the 2002 Act have not yet come into force. The end result, therefore, is that the SDLT relief provisions cannot apply – and therefore SDLT is payable in full on a collective enfranchisement.
|
|
April 2009 |
