Osborne Urged To Axe Stamp Duty on Empty Homes

Landlords buying empty homes to bring them back into use should be exempt from paying stamp duty, according to the Chartered Institute of Housing. In its submission to chancellor George Osborne ahead of next month’s budget, the CIH has called on the government to offer an incentive to purchasers to bring back into use some of the 260,000 empty homes in England by lifting the tax. The CIH said that the policy could turn around 5,000 properties a year with an investment of £50 million, which could create £142 million of economic activity and support 600 new jobs. The housing trade body added that such a move could cost as little as £2,500 per home for the government. Read more on Inside Housing.