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Stamp Duty

Does anybody have any idea what is happening with Stamp Duty? It was announced a few weeks ago that the Government was considering a Stamp Duty holiday........and since then, nothing. I am in the process of selling my house, but my buyer has now withdrawn his offer because he wants to wait and see - and quite honestly, I can't blame him as he could end up saving £000s. My purchase was dependent on selling my house and therefore I've had to pull my offer as well. I suspect this is happening up and down the country - why won't they either confirm they are or are not going to have a stamp duty holiday: mentioning it and then clamming up is damaging this already crappy market. So, is there any more news on this that I've missed?

flip_flop Mon 18/08/08 12:52

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jake-the-peg
Mon 18/08/08
13:23

According to the FT this was only being considerred for first time buyers

http://www.ft.com/cms/s/0/bcbe6ef2-69a3-11dd-9 1bd-0000779fd18c.html

Avatar
Mon 18/08/08
13:52

About time they realigned it with the way inflation and house prices have gone aswell the thieving b4stards.
I suggest if they must have a stamp duty at all
120 - 250,000 0%
250-500,000 1%
above, 2%

jake-the-peg
Mon 18/08/08
14:46

Interesting you should quote numbers Avatar - how did you come by them?

Do you think such a change would result in a net drop in government revenue and if so how would you plug the gap?

Increased borrowing? more taxes elsewhere?

These are the questions that the theiving b4astards have to answer

rov1200
Mon 18/08/08
15:36

The problem with these government advisors is that they tend to think out loud. Normally they throw all the ideas in a pot, discuss each of them in turn and pick out those that will work the others being consigned to the bin. But I suspect they are floating these ideas to see what reaction they will make to the general public before going through the above process. Very unsettling so don't believe a word you hear until it is government policy.

jedimistress
Mon 18/08/08
19:54

Booo. And I was hoping to use the £125k as an excuse to negotiate some properties down the way.

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