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Stamp Duty Land Tax

Volume 459: debated on Wednesday 18 April 2007

To ask Mr Chancellor of the Exchequer if he will estimate the reduction in the yield of stamp duty land tax as a result of the sale of commercial and residential property into offshore companies; and if he will make a statement. (131617)

The purchase of UK commercial property by offshore companies attracts stamp duty land tax. No estimate is available of the subsequent reduction in yield from transactions of shares in those companies instead of the underlying property.