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Society welcomes cross party support for a new fairer and simpler property tax

27 March 2013 | tagged News release

Responding to this morning's publication of the Scottish Parliament's Finance Committee report on the Land and Buildings Transaction Tax (Scotland) Bill, Isobel d'Inverno, Convener of the Society's Tax Law Committee, said:

'It is good to see this cross party committee of MSPs giving their support to the new land and buildings transaction tax. We strongly support the replacement of the slab system of stamp duty land tax, which many perceive as unfair due to the steep rise in tax for properties just above the thresholds. This distorts the market by keeping prices artificially low and gives rise to tax avoidance. We are certain that the proposed new progressive structure will be fairer and simpler for those buying a house."

ENDS

27 MARCH 2013

Notes to editors

The Finance Committee's report can be viewed on the Scottish Parliament's website.

The Society's response to the Scottish Government consultation and its written evidence submitted to the Finance Committee on the Land and Buildings Transaction Tax (Scotland) Bill can be found on the Society's website.

FOR FURTHER INFORMATION: Journalists can contact Julia Brown on 0131 476 8204 or Val McEwan on 0131 476 8115 or 07825 206 468. For the out of hours service please call 0131 226 8884.

Email: juliabrown@lawscot.org.uk orvaleriemcewan@lawscot.org.uk

27 March 2013

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