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Thanks for the Clarifications

 
Gordon Keenay Deputy Head of KPMG's Stamp Taxes Group steers a course through the intricacies of the SDLT charging provisions
 
I admit that I had a sense of foreboding when I saw that the title of one of the Inland Revenue Budget Notes relating to SDLT (REV BN 37 published on 17 March 2004) was 'Technical Clarifications'. Advisers and taxpayers were gradually coming to terms with the surprisingly complex SDLT charging provision as it applies to the bulk of transactions in land. The Revenue's interpretation of the statute was becoming clearer even if the land transaction return is as ghastly as ever and has still not caught up with the last-minute changes to lease duty. Are not the phrases 'more changes to the statute' and 'technical clarifications' contradictions in terms?
 
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