000			01225cam a2200229 4500
001			ABS66939
008			030808n2003 000 0 eng u
035			_a(Sirsi) u123234
100			_aJames, C.
245			_aChanging duty on commercial leases
260			_c2003
490			_aJournal of the Law Society of Scotland _v48(7) July 2003, 56-7(2)
520			_aGovernment 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.
590			_aABS
650			_aSTAMP DUTY
650			_aFINANCE BILL 2003
650			_aNET PRESENT VALUE
650			_aCOMMERCIAL LEASES
650			_aVALUE ADDED TAX
690			_aTAXATION
942			_n0
999			_c73186 _d73186