Tuesday, Sep 08, 2009
UK Government Might Extend Stamp Duty Holiday
E1 News: Stamp Duty Holiday – to Be Extended or Not?
The break, known as stamp duty holiday, allowing buyers not to pay the stamp duty tax if the property they purchase costs less than £175,000, will no longer be available at the end of this year.
Posted by anna smith @ 07:53 AM (284 views) Add Comment
1 Comment
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1. mark wadsworth said...
They would say that, wouldn't they, just to "get the market moving".
And then they'll extend it, and then the next Tory government will increase the threshold to £250,000 or something, because as we well know, SDLT depresses selling prices by the amount of the tax. So it's a way of transferring wealth from the taxpayer generally (the shortfall will have to be made up somehow) to owners and vendors of houses. Superficially, they'll say it's to "help" (G-d I hate that euphemism) first time buyers, but the FTB's won;t see a penny of it because prices will adjust up accordingly.