To be completely frank, when we saw a Conservative prime minister appear at the doors of number 10 Downing Street last year, the last thing we expected would they would actually resolve a taxation issue that affects many of their supporters.
However, we're delighted to see that after various promises over the past six months, that they are cracking down on those people looking to avoid Stamp Duty Land Tax (SDLT).
In addition to the budget earlier this year when many avoidance schemes were outlawed, we read that the draft Finance Bill 2012 now includes a change to SDLT rules outlawing avoidance for properties over £1m, where previously, buyers could exploit a loophole which would save them thousands of pounds.
We remain concerned that those people that have been sold such avoidance schemes in the past will end up having to find the money that they have saved (not forgetting the 50% fee that they paid to the providers that sold them the "cast-iron" schemes) when the Revenue and Customs finally catch up with them.
