Changing duty on commercial leases
Series: Journal of the Law Society of Scotland ; 48(7) July 2003, 56-7(2)Publication details: 2003Subject(s): Summary: Government has proposed radical changes to the amount of stamp duty paid on leases with effect from 1 December 2003. Examines the changes that the Finance Bill will bring to the payment of stamp duty. The existing regime will be replaced by a one percent charge on the Net Present Value (NPV). The NPV equates to the total rent payable over the term, discounted at a rate of 3.5% per annum to reflect that payments due in the future are worth less than if they were payable instantly. Comments that the NPV is not an easy calculation with a number of variables to take into account. Table comparing the proposed stamp duty with the current one.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS66939 (Browse shelf(Opens below)) | 1 | Available | 123234-1001 |
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Government has proposed radical changes to the amount of stamp duty paid on leases with effect from 1 December 2003. Examines the changes that the Finance Bill will bring to the payment of stamp duty. The existing regime will be replaced by a one percent charge on the Net Present Value (NPV). The NPV equates to the total rent payable over the term, discounted at a rate of 3.5% per annum to reflect that payments due in the future are worth less than if they were payable instantly. Comments that the NPV is not an easy calculation with a number of variables to take into account. Table comparing the proposed stamp duty with the current one.