Moves to limit the use of special purpose vehicles could be extended to the commercial property market.
Accountancy Age, 25 Mar 2008
Moves to clamp down on the use of companies to buy and sell residential property could be extended to the commercial property market, advisers fear.
The chancellor last week unveiled moves to prevent people using special purpose vehicles to buy and sell properties, cutting the stamp duty payable to just 0.5%, The Telegraph reported.
Simon Hardwick, a partner at law firm Halliwells, said: 'The residential market is tiny, the commercial market is huge. This makes no sense unless they are looking for a model in the residential market that they can move into the commercial market.'
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