A real estate trust can claim relief for overpaying stamp duty land tax on its purchase of property, according to a UK court.
His Majesty’s Revenue and Customs improperly denied BTR Core Fund JPUT’s £3,064,633 ($4,133,576) relief claim since it wasn’t made “by reason of” a mistake, and the reasoning had no bearing on the claim’s validity, the Upper Tribunal (Tax and Chancery Chamber) ruled Wednesday.
BTR claimed to HMRC across several years starting in 2019 that the trust made errors in its stamp duty land tax ...