Pre Budget Report
Stamp duty land tax:
- Change in notification thresholds for land transactions (PDF 56K)
- Changes to 2007 anti-avoidance legislation on partnerships (PDF 53K)
- Consultation on the use of special purpose vehicles to reduce SDLT liability on high value residential property transactions
The Government wishes to consult with the property sector about the use of special purpose vehicles which are increasingly being used to avoid payment of SDLT on high value residential property transactions. The aim of the consultation is to identify the scale of the problem and how best to address it.
Stamp Duty:
Stamp Duty/Stamp Duty Reserve Tax:
- Stamp Duty/Stamp Duty Reserve Tax intermediary relief
The Government announced earlier this year that it intended to extend the changes made to stamp duty intermediary reliefs to shares admitted to trading on Multilateral Trading Facilities. However, this is subject to the findings of the current Financial Services Authority consultation on the regulatory implications of the change. The FSA are expected to report their initial conclusions very shortly and a further update will be provided at that time.
Stamp Duty Reserve Tax
- Consultation on reform of SDRT regime for unit trusts and open ended investments companies (OEICs)
In response to representations from the industry, the Government is proposing a consultation on how the current stamp duty reserve tax (SDRT) regime for unit trust schemes and open ended investment companies might be reformed in order to simplify the charge and reduce the administrative burden on fund managers. This will begin later this year.
