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.
