BRC challenges Treasury figures on Stamp Duty

Government reform of Stamp Duty on commercial leases will cost retailers£228 million, according to a British Retail Consortium survey.

The organisation says the Treasury got its sums wrong by estimating that the tax yield would be£210 million across all affected sectors. The Chancellor also assured the industry that 60 per cent of commercial transactions would be exempt from the charge but, according to the BRC survey, only 30 per cent of the retail sector will be exempt.

The Treasury should delay its reforms until a complete and accurate assessment of the impact of the changes can be made, says the BRC.