Chancellor George Osborne made a grab for the riches of the booming central London residential market this week by slapping a 15% stamp duty tax on residential properties worth more than £2m when bought through a company. As well as the measure to eradicate what Osborne called "morally repugnant" tax avoidance, the chancellor also introduced a 7% stamp duty rate on sales of property bought directly for more than £2m, with immediate effect.
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