Jump to content
House Price Crash Forum
Sign in to follow this  
crashmonitor

Half Of Home Buyers To Be Caught By 3%+ Stamp Duty

Recommended Posts

Probably a good thing for keeping a lid on house prices, because the 3% kicking in at 250K acts as a cap on the price of many homes. Indeed you get bunching of sales at 250K, which were it not for the stamp duty may well go in excess of 250K.

If the Government wants to stimulate prices, a rising of thresholds would have an immediate effect on adding a percentage or two IMO. Perhaps that is one in the locker for the General election.

http://www.telegraph.co.uk/property/10260719/Half-of-homebuyers-hit-by-punitive-levels-of-stamp-duty.html

Edited by crashmonitor

Share this post


Link to post
Share on other sites

In London 3% % is now the basic rate. A modest property of £400k now attracts stamp duty of £12k which is huge.

If the tax was only applied at a marginal rate I could live with it, but 3 or 5% flat rate is extreme and unnecessary. Of course the government is now reliant on the income.

Share this post


Link to post
Share on other sites

A modest property of £400k now attracts stamp duty of £12k which is huge.

Modest property of £400k - You are joking right? I could buy a feckin castle here for that price. TBH, the job situation outside of government/council sector is about the same pay too.

Share this post


Link to post
Share on other sites

It made me sick as a dog to have to hand over nearly £10k of my hard earned cash to the government in the form of stamp duty. It's ******ing criminal.

the government were on a good thing in the housing boom and is it any wonder they encouraged the boom. if people move house on average every 6 years this effectively raises income tax another 5 percent.

the British really are mugs.

Share this post


Link to post
Share on other sites

the government were on a good thing in the housing boom and is it any wonder they encouraged the boom. if people move house on average every 6 years this effectively raises income tax another 5 percent.

the British really are mugs.

It was a great little gravy train and lots of people loved paying it to day they lived in a house worth £XXXXXX.

The govt really had no incentive to stop the boom it was onto a nice little earner.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   215 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.