A. An interest in or over land can take many different forms and does not necessarily have to be an interest in the whole of the property. The term major interest is used here to denote a freehold or a lease which had more than seven years to run when granted. The word major is not a reference to the size of a proportionate holding. So the higher rates of tax will apply to the acquisition of a 49% share in a property if all of the other conditions are met.
Buying the property in a series of small tranches will not avoid the higher rates because of the linked transactions rules.
If you would like to discuss a stamp duty land tax query why not contact the Tax Advice Line on 0844 892 2470? Our team of experts have a wealth of experience and can also provide a written consultancy service at £180 per hour plus VAT.
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