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March 2011
BUDGET NOTES - PROPERTY TAX
Key points
The main rate of corporation tax will be reduced by an additional 1% to 26% from April 2011 and will continue to fall by 1% a year until 2014.
A number of SDLT anti-avoidance measures were announced, together with a change to the charge to SDLT on bulk purchases of residential property.
The planning system will be reformed.
REITs will be made easier to set up and more accessible to investors.
21 new Enterprise Zones will be introduced in England and discussions will be held with the devolved administrations about creating zones in Scotland, Wales and Northern Ireland.
Business Premises Renovation Allowances will be extended by five years to April 2017.