Loophole closed
Series: Estates Gazette ; (0020) 20 May 2000, 44(1)Publication details: 2000Subject(s): Summary: 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.| Item type | Current library | Copy number | Status | Barcode | |
|---|---|---|---|---|---|
| News article | London News article | 1 | Available | 106093-1001 |
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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.