January 20 2004. Small businesses will benefit from changes which reduce the proposed charge in the rental element when a new lease is granted (lease duty) by £1500 per lease on commercial transactions. The proposed charge on domestic residence transactions has also been reduced by £600. These changes are the latest in a series of changes announced by the Inland Revenue as part of the on-going process to implement the Budget 2003 proposals. Other changes include a new relief on businesses raising finance through the sale and leasing of the land and buildings; relief for chain breaking and similar companies which help to ensure an active house marketing.

Information on the changes is available from