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Chris Belcher considers the new tax rules for high-value property

18 June 2012

I have had cause this week to look at the proposed new tax rules relating to higher-value residential properties, which were announced in the budget on 21 March 2012 (and see http://bit.ly/LzWjYt).

The government is concerned about tax avoidance by wealthy owners of high-value residential property, and the chancellor announced a number of measures to deal with this. Some of those measures were to be the subject of consultation and on 31 May 2012, the consultation document was published (see http://bit.ly/Kfysw0).

Avoidance tactics

It is worth considering briefly why this issue has arisen. The relevant taxes in question are stamp duty land tax (SDLT) and capital gains tax (CGT) which can make the ownership of, or more sp...

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