Budget 2004

April 2004

For our newsletter regarding the Budget 2004 please see Stamp Duty Budget Newsletter (PDF 31K)

Budget 2004: summary

In his Budget speech, the Chancellor announced changes to SDLT which take effect after today. This Technical Note (PDF 23K) explains these changes and should be read in conjunction with the Budget Resolutions (PDF 136K). The Inland Revenue have also published two SDLT related Budget Notes today, one on technical clarifications and one on partnership transactions.

The changes taking effect after today will affect only larger and more complex transactions. In any case, many of changes merely clarify the intention of the legislation. The vast majority of purchasers will be completely unaffected. If you have any queries on these changes please call our enquiry line on 0845 6030135.

The changes taking effect after today do not require the SDLT6 Guidance Notes to be amended. Both the Guidance Notes and our SDLT guidance manual will be revised when the other changes take effect once the Finance Bill receives Royal Assent.