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Stamp Duty Land Tax

Gordon Keenay Deputy Head of KPMG's Stamp Taxes Group examines the controversial SDLT regime for partnerships which own UK land and explains the practical implications of these complex provisions
Any residual illusion that a simple tax might result from more than two years of consultation was surely shattered by the SDLT partnership regime as brought into force by Finance Act 2004. In their article 'Stamping Out Partnerships' (The Tax Journal 20 August 2004 Issue 754) Kevin Griffin and Georgina West reviewed these provisions. My aim is to build on that introduction and consider the rationale behind the rules and the practical impact on transactions likely to be carried out by partnerships set up for the variety of purposes discussed elsewhere in this issue.

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