Budget 2011: stamp taxes

This year’s Budget included new measures affecting stamp taxes which will be legislated in the Finance Bill 2011 (concerning debt securities, bulk purchase, SDLT anti-avoidance, and the removal of one existing relief, as recommended by the OTS); measures which had been previously announced and which will be legislated in the Finance Bill 2011 (concerning collective investment schemes and the exemption from SDRT charged under FA 1999 Sch 19); and finally new tax changes announced in the Budget 2011, but which will not be legislated until after further consultation (including SDLT relief for first-time buyers).