Duty unbound
Toner, N
Duty unbound - 2002 - Property Week 67(19) 17 May 2002, 50-51(2) .
Asks whether tax exemptions for deprived areas can replace profitable loopholes in stamp duty lost in April's Budget. The tax exemptions are aimed at encouraging urban regeneration in areas suffering from social and economic deprivation by reducing the entry costs imposed on business. The designations for deprived areas are based on a combination of electoral wards and postcodes and this can produce areas, especially in London, where affluent areas can come under the tax exemptions because they share the ward or post code with an area of high unemployment and poor housing. Consequently there may be unintentional benefits but one needs to check carefully that a building falls into the scheme's parameters.
STAMP DUTY
TAX EXEMPTIONS
URBAN REGENERATION
PROPERTY TRANSACTIONS
Duty unbound - 2002 - Property Week 67(19) 17 May 2002, 50-51(2) .
Asks whether tax exemptions for deprived areas can replace profitable loopholes in stamp duty lost in April's Budget. The tax exemptions are aimed at encouraging urban regeneration in areas suffering from social and economic deprivation by reducing the entry costs imposed on business. The designations for deprived areas are based on a combination of electoral wards and postcodes and this can produce areas, especially in London, where affluent areas can come under the tax exemptions because they share the ward or post code with an area of high unemployment and poor housing. Consequently there may be unintentional benefits but one needs to check carefully that a building falls into the scheme's parameters.
STAMP DUTY
TAX EXEMPTIONS
URBAN REGENERATION
PROPERTY TRANSACTIONS