Research from Bloomsbury Professional suggests the majority of accountants still believe that the stamp duty regime on residential properties is unfair, despite the recent ‘slab system’ reforms.
Fifty-five percent of the surveyed accountants still believe the system is unfair, with 22% arguing that stamp duty ought to be set more locally, to reflect regional conditions and enable it to be used, for example, as a measure to either boost or control local property markets. A further 20% felt that stamp duty remains too high overall whilst 13% felt that the tax is too high for more expensive properties.
When the new stamp duty rates were announced in December 2014, the government said 98% of homeowners would pay less after the charges and only those buying properties worth more that £937,000 would pay more. HMRC collected £10.7bn in stamp duty in 2014/15, a 36% increase over three years from £6.9bn in 2012/13.
Research from Bloomsbury Professional suggests the majority of accountants still believe that the stamp duty regime on residential properties is unfair, despite the recent ‘slab system’ reforms.
Fifty-five percent of the surveyed accountants still believe the system is unfair, with 22% arguing that stamp duty ought to be set more locally, to reflect regional conditions and enable it to be used, for example, as a measure to either boost or control local property markets. A further 20% felt that stamp duty remains too high overall whilst 13% felt that the tax is too high for more expensive properties.
When the new stamp duty rates were announced in December 2014, the government said 98% of homeowners would pay less after the charges and only those buying properties worth more that £937,000 would pay more. HMRC collected £10.7bn in stamp duty in 2014/15, a 36% increase over three years from £6.9bn in 2012/13.
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")