The Royal Institute of British Architects (RIBA) has announced the winners of the 2011 awards for architectural excellence. The 89 winners in the UK include a community hall in the Hebrides and a self build hideaway in the Lake District as well as fourteen schools and nine university buildings.
The awards also give a boost to UK Olympic preparations with the Velodrome receiving an award. Nicknamed the giant Pringle in honour of its crisp like curves the Velodrome is just one of many Olympic buildings which have already been completed in plenty of time for the Olympics next year.
Most notable among the award winners are seventeen private houses. Commentating on the awards this year the RIBA president, Ruth Reed, said that “this year’s winners show that in spite of a terrible worldwide recession, many exceptional buildings have been, and continue to be, built in the UK and overseas.”
Whilst many of these award winning buildings are unlikely to be offered for sale in the next few years, being linked to educational establishments and other public bodies, those that do may well command a premium in the light of the RIBA recognition. For these, as with all other buildings which are sold or leased, the question of Stamp Duty Land Tax (SDLT) will come into play. With the top SDLT rate currently set at 5%, the rate of SDLT can influence the outcome of a property transaction. Luckily for those affected there are some mitigation techniques which are available to reduce the transaction costs.
As tax mitigation specialists Newshams are able to give advice on SDLT, how it may affect any private or business transaction and how to put in place an effective mitigation strategy. We recently announced a new SDLT mitigation technique which can mitigate 100% of the SDLT in respect of property transactions in excess of £500,000. This technique is equally effective for commercial and private transactions whether freehold or leasehold.
Contact us now on 020 7470 8820 and ask to speak to a tax adviser about how we can reduce the tax costs on your corporate transaction or e-mail us at firstname.lastname@example.org and we’ll get straight back to you.
25th May 2011