Government ‘Should Overhaul’ Stamp Duty To Boost Housing Market

The government should slash stamp duty to help boost housebuilding and encourage people to buy their own homes, a new report has stated. Stamp duty is the second most unpopular UK levy behind inheritance tax, and a gradual rise in rates has meant the average buyer in England pays £2,300 when they buy a property. Think tank the Centre for Policy Studies (CPS) branded stamp duty a “tax on mobility and aspiration” and urged the government to raise the threshold from £125,000 to £500,000. The report proposed that a four per cent levy be charged on properties between £500,000 and £1m, and five per cent on anything higher. Read more on the CITY AM website.

https://www.cityam.com/government-should-overhaul-stamp-duty-to-boost-housing-market/