A North-east based law firm has been shortlisted for a national award for its work on a campaign which capitalised on opportunities to market property in the Aberdeen city area ahead of the changes in stamp duty tax.
Full service Scottish law firm Ledingham Chalmers is among the finalists in The Lawyer Business Leadership Awards for 2015, for efforts to maximise opportunities presented by the change in property tax regime.
Ledingham Chalmers is the only solely-Scottish based firm represented in these awards, which recognise operational and creative excellence across the international legal market.
Changes to the UK-wide Stamp Duty Land Tax (SDLT) were introduced in December 2014. The Scottish Government had already announced they would be introducing a Land and Buildings Transaction Tax (LBTT) from April 1, 2015. The discrepancy between the two rates for the period between December 2014 and April 2015 meant buyers in the mid-to-top end of the property market could save tens of thousands of pounds in tax, if they bought before March 31.
Ledingham Chalmers’ Chairman and residential property team based in Aberdeen reacted quickly to capitalise on the potential surge in business before the deadline for new tax regime.
Chairman and Partner Jennifer Young said, “Ledingham Chalmers was able to react quickly and creatively to the window of opportunity presented by the change in legislation. The residential property team provided sound legal advice to clients during a period when decision making needed to be swift. Ledingham Chalmers is delighted to be recognised in these awards which celebrate excellence in the legal profession in an international marketplace.”
For further information about Ledingham Chalmers please call Chris Brand on +44 (0)1224 615859 or email firstname.lastname@example.org