TaxPayers’ Alliance urges Government to abolish Stamp Duty to help solve housing crisis
The influential TaxPayers’ Alliance has called on the Government to halve all rates of Stamp Duty immediately and eventually scrap it altogether. The recommendation also urges the immediate scrapping of the 3% surcharge on buy-to-let properties and second homes.
In a report issued this morning the Alliance says that the Government must undertake “real reform” to solve the housing crisis and describes the recent tweaks to the tax system as “gimmicky”.
The report also suggests that Stamp Duty taxation doesn’t raise much revenue and describes it as a tax which stops people from buying their own home.
Full story available from Property Industry Eye: http://www.propertyindustryeye.com/ministers-urged-to-abolish-disastrous-stamp-duty-to-help-solve-housing-crisis/