Sir Laurie said she did get legal advice when buying the property, but failed to seek further expert tax advice as recommended.
i know this was all gone over at the time but fuck me. the excuse for dodging stamp duty was that her house was held in a trust fund for her kid who was 17 at the time
five minutes or so on the gov.uk stamp duty website gets you:
higher rates apply to […] any residential property that […] is owned on behalf of children under the age of 18 (parents are treated as the owners even if the property is held through a trust and they are not the trustees)
i know this was all gone over at the time but fuck me. the excuse for dodging stamp duty was that her house was held in a trust fund for her kid who was 17 at the time
five minutes or so on the gov.uk stamp duty website gets you:
https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property
this counts as expert tax advice apparently