Agents warn against end of Stamp Duty holiday...

04 September 2009

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2 Comments

National estate agency group haart is warning that a forthcoming hike in Stamp Duty could hit the housing market in the New Year.

The Stamp Duty threshold where the tax is payable is due to be lowered from £175,000 to £125,000.

A first-time buyer purchasing a property with an average price tag of £160,000 will have to fork out a £1,600 Stamp Duty bill from January 1, whereas at the moment there is no tax to pay. In addition, VAT is due to return to its former level of 17.5%.

Haart chief executive Paul Smith said: “We would urge the Government to think long and hard about ending the Stamp Duty holiday introduced in September 2008. The public have been battered by this economic downturn in so many ways.”

Comments

- Gordon Henly
KEEP THINGS HOW THEY ARE, OR WILL OUR AWFUL GOVERNMENT MAKE YET ANOTHER CATASTROPHIC ERROR!!
- 05 September 2009 19:27 PM
- Integra
And of course all fees will see a return to 17.5% VAT, adding back around £100 on the average property transaction.
- 04 September 2009 13:57 PM

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