End to stamp duty relief is 'biggest shock'
Businesses will foot the bill for "pre-election giveaways," according to business and finance adviser Grant Thornton.
The abolition of the Stamp Duty Land Tax disadvantaged areas relief with effect from 16 March is expected to generate £340m in 2005/06.
The Treasury announced that the relief will be replaced by a new Local Enterprise Growth Initiative, worth £150m per year by 2008/09, to "boost enterprise in the most deprived areas of England".
Grant Thornton said i
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well...
"The swathe of anti-avoidance legislation issued, most of which will affect companies with overseas operations, is expected to raise an extra £660m in 2005/06 and a massive £1.1bn in 2006/07" say Grant Thornton.
I think that can be seen as justifying anti-avoidance legislation if anything does.