Finance Bill 2018: 6% Stamp Duty – Revenue Guidance re Transitional Measures

The Finance Bill published on October 19th last, if enacted as initiated, applies the new 6% rate of stamp duty to conveyances on sale or transfer of commercial real estate and certain other property where the instrument is executed on or after 11 October.  It also includes a provision that will, when enacted, provide that the former lower rate of 2% may apply to a conveyance on sale or transfers executed on or before 1 January 2018 provided there was a binding contract in place on or before 10 October 2017 and the instrument contains a certificate to that effect (the “transitional measures”).

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