Modernising the taxation of property
Modernising the taxation of property
- 2003
- HM Treasury Press Release (PN 05) 9 April 2003 (5) RICS Press Release (pr029) 10 April 2003 (2) .
The chancellor's 2003 budget introduces a package of reforms to modernise the tax treatment of property. Key measures include: frozen stamp duty levels on business property purchases, a zero-rated stamp duty threshold of £150 000 for commercial property transfers and leases, replacing the existing charge to leases with a single 1% charge on the net present value of rental payments and the de-coupling of stamp duty for residential and commercial property. Full budget report available at www.hm-treasury.gov.uk/budget/bud_bud03/budget_report/bud_bud03_repindex.cfm. www.hm-treasury.gov.uk/budget/bud_bud03/press_notices/bud_bud03_press05.cfm www.rics.org/ricscms/bin/show?class=PressRelease&template=/includes/showpr.html&id=897
STAMP DUTY
PROPERTY TAXATION
COMMERCIAL LEASES
BUDGET
PROPERTY TRANSACTIONS
The chancellor's 2003 budget introduces a package of reforms to modernise the tax treatment of property. Key measures include: frozen stamp duty levels on business property purchases, a zero-rated stamp duty threshold of £150 000 for commercial property transfers and leases, replacing the existing charge to leases with a single 1% charge on the net present value of rental payments and the de-coupling of stamp duty for residential and commercial property. Full budget report available at www.hm-treasury.gov.uk/budget/bud_bud03/budget_report/bud_bud03_repindex.cfm. www.hm-treasury.gov.uk/budget/bud_bud03/press_notices/bud_bud03_press05.cfm www.rics.org/ricscms/bin/show?class=PressRelease&template=/includes/showpr.html&id=897
STAMP DUTY
PROPERTY TAXATION
COMMERCIAL LEASES
BUDGET
PROPERTY TRANSACTIONS