Ministers have made a clear commitment to a fair tax system, and they keep all aspects of it, including stamp duty rates and thresholds, under regular review. In the 2002 Budget the Chancellor announced a major reform of certain aspects of stamp duty on land and buildings in the UK. A consultative document was published on
All commercial property—not just industrial property—will be exempt from stamp duty in 2,000 enterprise areas. The European Commission has now approved this relief under the State Aid rules. An announcement will be made shortly on implementation.