UT (Tax & Chancery) UT-2024-000024 - [2025] UKUT 00156 (TCC)

Section 75A FA 2003 is applicable to the Arrangements and this was conceded by the Appellants in 2022 following the Project Blue litigation.

Section 75A was introduced by s71 Finance Act 2007 and applies to disposals and acquisitions taking place on or after 6th December 2006. It applies where one person, V, disposes of a chargeable interest and another person, P, acquires it (or a chargeable interest deriving from it) and there are a number of scheme transactions, the result of which is that the amount of SDLT payable is less than the amount that would be payable on a notional land transaction under which P acquired V’s chargeable interest. The effect of section 75A is that all scheme transactions that are land transactions are disregarded and there is deemed to be a “notional land transaction” effecting the acquisition of V's chargeable interest by P on its disposal by V. The consideration for the notional land transaction is determined under subsection (5):

“Section 75A – Anti-avoidance