Stamp duty may be axed
Reports have emerged today saying that the Government may axe stamp duty altogether
Newspaper reports that the Chancellor is looking at scrapping stamp duty are being welcomed, although the decision has not been confirmed by the Government.
Details published today in The Sun newspaper suggested that stamp duty may be scrapped altogether following the downturn in the housing market and the lack of affordability faced by first-time buyers.
Stamp duty is currently paid by those buying property, and is charged at 1% for houses between £125,001 to £250,000, 2% for a value between £250,001 to £500,000, 3% from £250,001 to £500,000 and 4% for properties over £500,001.
It is claimed that treasury officials will present their research to the Prime Minister at the end of the month.
Sign up for the Country Life Newsletter
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
-
From Bond to billions: How Andermatt is becoming one of the most talked about ski resorts in the Alps
Originally a sleepy town used by the Swiss army, the resort of Andermatt is growing into a must-visit for the discerning skier.
By Adam Hay-Nicholls Published
-
The life and times of P. G. Wodehouse, 50 years on from his death
Bertie Wooster, Jeeves, Lord Emsworth and the Blandings Castle set: P. G. Wodehouse’s creations made him one of the most widely read humorists of the 20th century, but he was denounced as a traitor and a Nazi.
By Roderick Easdale Published