Saturday 26 November 2011

One in three £1m homes have no stamp duty paid on sale - Telegraph

One in three £1m homes have no stamp duty paid on sale - Telegraph

Wealthy owners are using tax avoidance schemes to get out of paying the 5 per cent levy.

Such tax avoidance costs the economy an estimated £1 billion.

George Osborne, the Chancellor, vowed to close such loopholes in March’s Budget.

However, tax experts believe the abuse is commonplace.

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