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Stamp Duty reform was back in the news over the weekend amid reports that the Government plans to reform the controversial tax.
Just a day after losing two byelections, stories appeared in the mainstream press about plans to cut Stamp Duty by tinkering with the thresholds.
The reports suggest the changes would be included in the Conservative General Election manifesto rather than the more-immediate Autumn Statement last month.
A report in The Times even suggests that help for first-time buyers is being considered.
It comes despite first-time buyers already being exempt from Stamp Duty on the first £425,000 of a purchase.
Let us know in the poll below if you think a Stamp Duty cut would help the property market.
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With speculation you get property stagnation! Another reason for buyers to put their search on hold ! Seriously this government does not have a clue . You either make a decision or you don’t , you don’t start talking about possibly making a decision .
Agree on the stagnation. This is another attempt by this irrecoverable government. A blatant and vacant cry to try and get voters interested but the reality is they’ve run their course. Whilst a stamp duty cut could be a possible boost for the industry, it’s the interest rates and inflation which continue to impact buyers. Whilst I agree with FTB’s having support, the overall market needs an overhaul. The extra 3% for BTL’s has created havoc and needs rethinking. Basically, we need a new government! Why beat a dead horse!
why break the habit of a decade :)
The massive increases to stamp duty (tax on homes) was brought in by George Osbourne and thought by many to counteract the ridiculous mansion tax proposals by Jeremy Corbyn. The housing market, one of the biggest drivers of the UK economy has been affected ever since. Like all taxes which usually increase over time, the Gov't have made huge errors here and this must be sorted once and for all.
Doing it anytime soon would be even more stupid than leaking it. 100,000s of homeowners were duped into rushing to purchase in 2021 and are now facing the mortgage cliff edge. Incentivising buyers to commit to nasty 5-6% mortgages to save a few quid on tax, albeit dwarfed by the overnight house price inflation it would produce, would be foolish to say the least. All depends on when of course.
Whilst they do mention the possibilities of Stamp Duty cuts, their's no confirmation of whether this will include LL's.
Whilst they do mention the possibilities of Stamp Duty cuts, their's no confirmation of whether this will include LL's.
The most corrupt innocent looking conservative party ever seen. And the worst government in history.
So much back door taxing and they have broken the housing market.
Open goal for Labour though they will still find a way of messing it up.
Agree regards stagnation and the stupidity of 'sounding out' the public and professionals like this.
If they do something, it has to be permanent. No stupid temporary measure again. A permanent change means no immediate bubble or rush.
Anything now needs to provide grease under the wheels, not a rocket boost with limited fuel.
89 is less than 91. But not on a Tuesday.
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