Prudential Assurance Co Ltd v Inland Revenue Commissioners.  BTC 8094
Sir Donald Nicholls V-C.
Judgment delivered 29 October 1992.
Stamp duty – Conveyance on transfer or sale – Agreement for sale of partly developed property – Second agreement that vendors would complete development at purchaser’s expense – Both agreements negotiated together and executed simultaneously – Development immediately transferred to purchaser – Whether stamp duty payable on transfer of property calculated by reference to the consideration provided for in the sale agreement and building costs up to date of transfer only or in respect of total cost of land and finished buildings.