View more on these topics

Tories serve up a menu to make stamp duty fairer

The Conservatives say they will offer an option menu to make stamp duty fairer for housebuyers.

One option entails exempting first-time buyers from stamp duty on any house purchase below 250,000. The Conservatives would also like to see a doubling of the duty threshold from 60,000, exempting all houses with sale values below 120,000.

The Conservatives say the Government has taken 3.79bn from stamp duty on residential property since 1997.

The Tories’ stamp duty paper is one of eight consultation papers on taxes to be released over the coming months. Other papers include propositions on inheritance tax, council tax, income tax and National Insurance thresholds.

Shadow Chancellor Oliver Letwin says stamp duty is a “classic Labour stealth tax”. He believes the threshold for stamp duty should be raised to 120,000 due to the inc-rease in house prices over the past three years.

Letwin says: “Stamp duty adds another burden to housebuyers at a time when their budgets are at their most stretched. It is particularly hard on first-time buyers trying to get a foot on the property ladder.”

Recommended

Lenders urged to be inclusive

Lenders should assess and price risk for non-conforming borrowers rather than exclude them, says a new study of the market.

Julian Gibbs

JO Hambro has attracted yet another top fund manager, Clive Beagles, former manager of Newton higher-income fund.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com