The measure

The Government announced that it will examine whether further changes to the SDLT rules on 'high value' property transactions are needed to prevent avoidance.

It is not clear whether this alludes to:

• a general anti-avoidance rule;
• more targeted anti-avoidance rules; and/or
• an indirect charge on sales of property-rich companies;

There is also uncertainty on how 'high value' is to be interpreted and how legitimate transactions involving high value are to be distinguished from ones perceived to be malevolent.

Who will be affected?

All purchasers of high value property to which SDLT planning arrangements are implemented.

When?

No detailed date has been set but it is likely to be raised again in this year's Pre-Budget Report or next year's Budget.