Closing stamp duty loophole
Series: Property Week ; 64(46) 26 November 1999, 5(1)Publication details: 1999Subject(s): Summary: Government is planning to close a loophole in the current stamp duty system in which specially created corporate tax vehicles can be used to avoid the 3.5% levy. A vendor can set the vehicle to hold the property for sale, and then sell shares in the company, subject to only 0.5% tax. It may not be possible however to regulate for such vehicles which are registered overseas.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB3547-45 (Browse shelf(Opens below)) | 1 | Available | 102953-1001 |
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Government is planning to close a loophole in the current stamp duty system in which specially created corporate tax vehicles can be used to avoid the 3.5% levy. A vendor can set the vehicle to hold the property for sale, and then sell shares in the company, subject to only 0.5% tax. It may not be possible however to regulate for such vehicles which are registered overseas.