Article: Stamp Duty: What is the Impact of the 2002 Changes on Real Estate Transactions?

In this article we outline the impact of the stamp duty anti-avoidance

measures in the Finance Act 2002, which came into force on 24 July 2002,

on common transactions in the real estate sector.

Purchase of land: VAT-inclusive price not more than [pound]10m

No change except that stamp duty penalties can no longer be deferred

by executing and retaining the documents offshore. A contract for the

sale of land where the price including VAT, does not exceed [pound]10m is not

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