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In the 2009 Budget, the Chancellor extended this "stamp duty holiday" until the end of 2009. [23] In the 2010 budget, the chancellor ended stamp duty on homes under £250,000 for first-time buyers for a two-year period, while introducing a new 5% rate for properties over £1,000,000.
For example, under the United States system each corporation must maintain a calculation of its earnings and profits (a tax concept similar to retained earnings). [45] A distribution to a shareholder is considered to be from earnings and profits to the extent thereof unless an exception applies. [ 46 ]