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Loopholes Stamped Out But No Increases In Stamp Duty Rates

April 01, 2002

By Bonny Hedderly, Mark Eagan, and Nigel Heilpern

Gordon Brown has announced a package of measures to tackle stamp duty avoidance schemes and has issued a Consultative Document aimed at reforming and modernising stamp duty. However the expected increase in stamp duty rates was not implemented and in fact in certain deprived areas it is expected that stamp duty on all property transfers will be abolished altogether. This will be subject to EU approval.