Friday, 12 December 2008

STAMP DUTY SOLVED?


Lobbydog was speaking to his close friend and respected sage Old Tory Fart last night who suggested what on the face of it sounds like a win-win policy for a future Government.

Stamp duty on home purchases should be abolished and replaced with stamp duty on home sales.

1) It removes a huge barrier for young people trying to get on the property ladder.

2) People selling a house have the capital available to afford the tax.

3) Revenue to the Exchequer may actually improve due to the capitally increased figure from which a tax percentage is taken.

Old Tory Fart reckoned some “transitional relief” for people who currently own a property should be provided – after all, they've already paid when they bought their house.

He suggested that if such a person eventually sells their house, then the amount already paid could be deducted from the amount due under the new tax.

George, Alistair, if either of you want to take it on drop me a line.

What do we think people?

1 comment:

Anonymous said...

This is a brilliant idea! Why hasn't anyone thought of it before?

I guess we now all have to go and see what our MPs thinks of it!?

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