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8th March Spring Budget

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On 04/02/2017 at 11:33 AM, Dyson Fury said:

Mr Hammond should look closely at the 3% Stamp Duty surcharge for second homes and BTLers.



The landlords and letting agents have tried to spin this as supporting the idea that the government is raising so much revenue from the Stamp Duty surcharge that they could afford to scrap S24. 

The correct conclusion is the complete opposite.  The purposes of the Stamp Duty surcharge were to: (a) discourage second home ownership and BTLism (b) raise additional tax revenue to reduce the government's deficit.  Clearly (a) is not working effectively, while (b) is being achieved and has scope to be improved still further.  Therefore, the most sensible course of action is for the Chancellor to increase the Stamp Duty surcharge from 3% to a higher level, perhaps 5%, and this could be announced on March 8th to be implemented on 6 April - or even overnight.

A few letters and emails to Mr Hammond (not ranty ones) making this point might have a useful effect.

Does that figure include refunds? Don't you have 18 months to sell your 2nd home?

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