A five year moratorium on charging Stamp Duty Land Tax on the sale of houses in flood damaged areas has been called for by chartered accountants Blick Rothenberg LLP.
It believes that flood grant payments do not go far enough and more needs to be done to help property owners in areas affected by flooding.
Tax Partner, Genevieve Moore said: "One of the main concerns of property owners is how the flooding may have impacted their chances of selling their homes in the future, particularly a concern for people looking to downsize.
"A reduction or exemption from Stamp Duty Land Tax on the sale of these properties for the next few years, could not only help attract buyers to properties in these areas, but also provide valuable funds to the new owners, to further strengthen flood defences around the property."
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Comments
How about just abolishing it instead. It is morally reprehensible to extort a tax from a private sale between two private individuals. In this case a property that has been bought with someone's after-tax earnings (vendor) and is now being bought again by another person's after tax earnings (buyer)