Loophole closed
Loophole closed
- 2000
- Estates Gazette (0020) 20 May 2000, 44(1) .
Government has closed a loophole which would allow property owners to reclaim stamp duty. The Finance Bill contains a provision stating that for stamp duty purposes, the date of a contract should be when the option to buy or sell a property is exercised rather than when it is granted. The new legislation will cover all transactions since the March 2000 budget.
STAMP DUTY
PROPERTY TRANSACTIONS
FINANCE BILL
EXCHANGE OF CONTRACTS
Government has closed a loophole which would allow property owners to reclaim stamp duty. The Finance Bill contains a provision stating that for stamp duty purposes, the date of a contract should be when the option to buy or sell a property is exercised rather than when it is granted. The new legislation will cover all transactions since the March 2000 budget.
STAMP DUTY
PROPERTY TRANSACTIONS
FINANCE BILL
EXCHANGE OF CONTRACTS