Thursday, August 7, 2008
Dear oh dear
House sales have begun falling through because of Alistair Darling's hints of a stamp duty "holiday", it was revealed today. Furious estate agents reported that some buyers have pulled out at the last minute in the hope that they may escape paying thousands of pounds in tax by hanging on. One London homeowner whose house sale has fallen though this week said, "My house, an ordinary Victorian terrace in south-west London, was going for £770,000 which meant a stamp duty bill of £30,800. "I completely sympathise with my buyer who is understandably unhappy about paying that amount if there is a chance of avoiding the tax but it has left me in a real mess." Stamp duty costs the average London homebuyer almost £9,000.