A think tank wants the government to scrap stamp duty and replace it with an annual property tax based on capital value. Bright Blue says its tax commission - which it calls “cross party, cross sector” - recommends an annual proportionate property tax (APPT) on the current capital value of houses with a tax exemption for properties worth up to £50,000 and a 25 per cent surcharge for second home owners. Liability to pay would be with owners, not occupants. A single low tax threshold of initially £50,000 should be introduced, set to rise with house prices over time. Read more on Estate Agent Today.
Scrap
Stamp Duty and implement annual property tax - ... (estateagenttoday.co.uk)
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