House sales tax loophole looks set to be closed

SHARE transfers as a way of selling properties could be subject to document duty in future.

At the moment, if a domestic property is bought the buyer pays document duty as a percentage of its value.

If a property is owned by a limited company it can be sold by means of a share transfer, thus avoiding the duty. If shares in a commercial property are transferred, the transaction is not subject to the tax.

Deputy Jack Honeybill, pictured, chairs the group that is to investigate options to tackle the issue.

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