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11 December 2012
Commenting on the government's new rules, announced today, Baroness Jo Valentine, chief executive of London First, said:
“These new rules on stamp duty and annual charges on high value properties show that the government has listened to some of the concerns of business. But while the legislation will be better focused on tackling avoidance, rather than businesses buying property for normal commercial purposes, the government risks adding significant complexity to investment in the UK, especially through its extension of Capital Gains Tax.
“Making the tax regime ever more byzantine only makes the UK less attractive to international investors.”