Budget and Finance Bill 2003

Budget and Finance Bill 2003: summary

Budget 2003

In his Budget 2003 the Chancellor announced:

• Stamp Duty on UK land and building - a package of measures to modernise stamp duty on land and buildings in the UK (Opens new window)
• Extension of disadvantaged areas relief in respect of commercial property transactions
• Extension of group relief clawback provisions (Opens new window)
• Abolition of stamp duty on certain tenancy agreements entered into with Registered Social Landlords (Opens new window)

A Statement of Practice on disadvantaged areas (SP 01/03: Disadvantaged Area Relief) has also been issued.

Finance Bill 2003

Further details on the modernisation of stamp duty on land and buildings were published today in a Finance Bill press notice.

For further details see in particular the Budget Day press notices PN 05 (Opens new window) and PN 08 (Opens new window).

The Finance Bill 2003 (Opens new window) was published on 17 April 2003 (Note: If you use this link, you will leave the UK Government area. To return, use the 'Back' button on your browser.) In addition explanatory notes (Opens new window) for the Finance Bill are also published today.

The Government has today (17th April 2003) published a partial Regulatory Impact Assessment (RIA) (PDF 126K) for the modernisation of stamp duty. This is a revised version of the RIA that was published in April 2002 to accompany the consultative document Modernising Stamp Duty on land and buildings in the UK.

More information can be found in Budget 2003 (Opens new window) and Finance Bill 2003 (Opens new window).