伊人直播

Example 4

Company B enters into a contract to sell a freehold plot of land to unconnected company A. The consideration for the transaction is 拢1m and as a condition of the contract B will complete construction works on behalf of A. Those works have an estimated market value of 拢750,000 which will be paid for by A.

Prior to completion A pays over 拢950,000 and B begins the construction works.

The payment by A does not constitute substantial performance of the contract, as the market value of the construction works will be regarded as chargeable consideration. Because it is a condition of the transaction that the vendor carry out these works, the 拢950,000 is not more than 90% of the total consideration. An SDLT1 should be lodged on completion (or substantial performance if this occurs earlier) paying the SDLT due on the cash consideration of 拢1m plus the 拢750,000 market value of the construction works to be carried out by B; a total chargeable consideration of 拢1,750,000, which is the sum paid by A to B.