Business and property transactions can give rise to a charge to Stamp Duty which is a cost to be factored into the overall cost of a transaction. The current rates of Stamp Duty are 1%-2% depending on the subject matter of the transaction. Where the opportunities arise, we work with our clients and their legal advisers in minimising this charge by availing of exemptions and reliefs such as:
· Associated Company relief where assets are transferred between associated group companies
· Reorganisation reliefs where corporate restructurings occur, e.g. share for share exchanges between companies
A detailed and thoroughly knowledge of these capital taxes with the available reliefs and exemptions form an intricate part of Retirement and Succession Planning for our clients.