PAST SUCCESSES

Please find below examples of some our recent successes:

  • Block comprising of 37 flats was bought in 2012 for in excess of £1.5m.
  • The purchaser's solicitors advised them the SDLT was due at 5%.
  • A year later the purchaser spoke with us. We informed them the correct SDTL rate was 4% and that on this they could claim multiple dwellings relief to bring the rate down to 1%!
  • A case for negligence was brought and £45k of compensation secured.

Care home - Capital Allowances

  • Care home was sold for £6m in 2014.
  • Having built the home the vendor had claimed substantial capital allowances in the past.
  • Their solicitors failed to formally agree a transfer value using a section 198 election.
  • Post completion the purchaser made a representation to the tribunal to fix a transfer value.
  • Over £1m of allowances were transferred from the vendor to the purchaser with an effective corporation tax cost of £230,000 on the vendor.
  • We helped the vendor secure substantial compensation for the conveyancer's lack of basic tax knowledge in this area.
  • We have since offered our services to the solicitors to provide some tax related training, we still await their response!
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