Budget 2003: Modernising the Taxation of Property

• Author:
• Lee Nuttall

With immediate effect:

- the complete abolition of stamp duty for transactions in commercial property in disadvantaged areas,
- the introduction of new anti-avoidance powers to stop perceived stamp duty abuse through the use of special purpose vehicles, and
- the tightening up of the conditions for relief from stamp duty under the group relief and acquisition relief rules (for example, the claw-back period is extended to three years; the “double drop” avoidance route is outlawed).

With... (76 more words)

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