Stamp duty exemption on care home sales must be applied for


Posted on February 1st, by editor in Caring Times. No Comments

A exemption from stamp duty applies to care homes upon their sale but Jessamy Loosemore, principal surveyor in healthcare at GVA Grimley advises that a certificate of exemption must be obtained. “In the April 2003 budget the Chancellor announced the abolition of stamp duty on non residential land transactions in Å’disadvantaged areas¹,” Ms Loosemore said. “The exemption covers duty on the purchase of freeholds and leaseholds and on both the premium and rental on leases. The relief applies to transfers or leases executed from April 10, 2003.” Care homes, children¹s homes, hospitals and sites are specifically excluded from Å’residential property¹, therefore any transactions will be stamp duty free. “To obtain complete exemption the transfer or lease must be certified as being exempt from duty. On completion, the transfer or lease must be sent to the Stamp Duty Office for adjudication. Unless a certificate is included and the Stamp Duty Office adjudicates, the transfer or lease will not be exempt from duty an





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