Money or money’s worth
SCHEDULE 4 Stamp duty land tax: chargeable consideration
1 (1) The chargeable consideration for a transaction is, except as otherwise expressly provided, any consideration in money or money’s worth given for the subject-matter of the transaction, directly or indirectly, by the purchaser or a person connected with him.
(2)[F586 Section 1122 of the Corporation Tax Act 2010F586] (connected persons) applies for the purposes of sub-paragraph (1).
(6) In sub-paragraph (5) “trustee” is to be read in accordance with section 1123(3) of CTA 2010 (“connected” persons: supplementary).
Defined in Sch.7A para.9(6) · see it in the full Act(6) In sub-paragraph (5) “trustee” is to be read in accordance with section 1123(3) of CTA 2010 (“connected” persons: supplementary).
Defined in Sch.7A para.19(6) · see it in the full Act(8) In sub-paragraph (7) “trustee” is to be read in accordance with section 1123(3) of CTA 2010 (“connected persons”: supplementary).
Defined in Sch.4A para.5A(8) · see it in the full ActSupplied the general definition of chargeable consideration, read with the special rules for contingent consideration and the section 75A calculation. (see paras [60]-[64])
Schedule 4 paragraph 1 was interpreted to include consideration in money or money’s worth given indirectly by the purchaser or a connected person. The phrase was not confined to payment mechanics; the pre-ordained scheme had to be assessed in the round. (see paras [23]; [52]-[56])
Absent an express alternative rule, chargeable consideration is the money or money's worth given directly or indirectly for the transaction. This rule determined the consideration for the partnership's acquisition (see paras [7]; [37]).
What each judgment says about Schedule 4, paragraph 1 is in the case-law panel in the full Act.