House Sellers 'Should Pay Stamp Duty'

Stamp duty should be a tax on property sellers, rather than buyers, to help those trying to buy their first home, a major UK building society has said. The Yorkshire Building Society said that nearly three-quarters of first-time buyers now paid the tax, compared with just over half in 2006. Many more buyers were being drawn into the tax as house prices rose but the threshold remained the same. It is levied on properties of more than £125,000, or £145,000 in Scotland. The rate steadily increases for more expensive properties. Read more on the BBC.