Commercial property stamp duty loophole to be closed
Late change to Finance Bill to combat avoidance of 6% duty on commercial property sales
Move follows a recommendation from the Revenue Commissioners, presumably sparked by evidence of people structuring transactions to avoid the new commercial property stamp duty rate which rose to 6 per cent. Photograph: Joe St Leger
A late change to the Finance Bill has been introduced to try to stop people who are selling commercial property from avoiding the new higher 6 per cent stamp duty rate by making the transfer via a company sale.