Fears over stamp duty crackdown
Moves to limit the use of special purpose vehicles could be extended to the commercial property market.
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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