A number of welcome measures were announced which will help to simplify the system:
A small increase in the threshold for Residential transactions is announced. From 23rd March 2006 the threshold for stamp duty land tax on residential transactions from 120,000 to 125,000.
Extension of Alternative Finance Reliefs
Relief against an extra charge for those using alternative financing arrangements for the purchase or lease of land and buildings. These are structured to preclude the payment of interest. The relief ensures that SDLT due is no more than would be due under more traditional loan finance arrangements.
Reliefs will be extended so that all persons such as companies, clubs and trusts can take advantage of this form of financing, and will be effective for al...