Stamp Duty

Treasury written question – answered on 5th March 2003.

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Photo of Jim Cousins Jim Cousins Labour, Newcastle upon Tyne Central

To ask the Chancellor of the Exchequer how many commercial stamp duty exemptions have been claimed in disadvantaged electoral wards; and what estimate he has made of the value of these exemptions.

Photo of John Healey John Healey The Economic Secretary to the Treasury

There have been 758 commercial transactions in disadvantaged electoral wards which have been exempted from stamp duty between the introduction of the relief at the end of November 2001 and the end of January 2003 . The value of the stamp duty relief given amounts to £749,010.

Relief for all transactions (including commercial) in exempted wards is currently restricted to those where the value of the transaction is £150,000 or below. The Chancellor stated in the pre-Budget report that the Government intended to exempt all commercial property transactions in these wards from stamp duty, irrespective of value.

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