News from the Residential Property Investor, the bi-monthly magazine for RLA members other artilces from the December 2001 / January 2002 issue RPI news archive

Deprived areas have stamp duty 'abolished' - December 2001 / January 2002

Stamp duty has been abolished on house sales of up to £150,000 in the country's most deprived areas. The announcement, effective as of 30 November, came in the Chancellor's November pre-Budget statement.

In all almost 2,000 wards are affected (a helpline oper ates on 0845 603 0135 for information on which areas qualify), just under one in five of the total number of wards. The largest number qualifying for exemption are in the north west (281, including 30 in Manchester, 28 in Liverpool, nine in Oldham, seven in Preston and eight in Rochdale) followed by London (233) and the north east (209).

Further exemptions are planned for 2002 for transactions in non-residential property so as to 'encourage businesses and families to locate in the qualifying areas, helping to revive depressed property markets, promoting enterprise and increasing employment opportunity'.
 

other artilces from the December 2001 / January 2002 issue

• 'Joined up' thinking overdue
• RLA launches assurance schemes
• Jail term for landlord who raped tenant
• Electronic gas certificates
• Byers promotes limited licensing
• 'Cancer risk' with roofing felt
• Government changes law to reverse court benefits loss
• Deprived areas have stamp duty 'abolished'
• Reader win rates refund
• In brief
• Evicting the 'Rigsby' image