Does anyone know if Mr Brown is raising stamp duty?

missk_ensington

As in the title, has anyone read or heard whether Brown is planning to raise stamp duty at this years Budget? Surely he can't keep the lower end at £125,000 given the rise in house prices?

Thanks!

rebeccaj

oh yes he can...

he's the tax and spend chancellor with a big black hole to fill and stamp duty is easy pickings on his tax grabbing front

:mad:

Tiger_greeneyes

I'm hoping the fact that he wants to get the job of PM will mean he's lenient this year...

I'm not going to hold my breath though!

missk_ensington

When is the budget actually announced. I have a buyer for my house but I want to hold off the sale until after budget as I'm right on the threshold for stamp duty and if the buyers dont need to pay it I can obviously get a bit more for the house.

Do you think he might raise it to £130,000? Or more?

talksalot81

I think one must ask whether it will actually do any good if he does. If he moves it, then people still will have the same amount to pay and will likely end up bidding the value up until we reach the same point once more.

missk_ensington

talkalot - good point, the reason I ask though is totally selfish cos my buyers would happily pay £130,000 but keep trying to go for £125,000 because of stamp duty. If it were £130,000 I'd get that little bit more out of it. Just not sure I can hang on til Budget day! Is there nothing about it in his pre-budget report?

Zammo

I'm a personal friend of Gordon and I can confirm that he will be raising stamp duty.

ManAtHome

As previously stated, Mr B needs heaps of dosh to attempt to cover a little bit of the even bigger heaps of dosh he's been blagging on the consolidation loans. People taxes are now largely optional (bung it in a cash/bonds pension if you're a oldie - 5 years to go, 8% pa tax-credit (more if you're a director) + 4% pa returns on "boring" cash - mad not to...). However, a bit difficult to bag up your bricks and mortar...

Might raise it to £128k - £125 + "inflation" lol.

missk_ensington

Zammo wrote: »

I'm a personal friend of Gordon and I can confirm that he will be raising stamp duty.

Ah right I see :rolleyes: so does your inside knowledge make any suggestion at how far it will be raised?

Zammo

missk_ensington wrote: »

Ah right I see :rolleyes: so does your inside knowledge make any suggestion at how far it will be raised?

He will raise it to 135K.

missk_ensington

PS Excuse my ignorance but when exactly is the budget (some websites say next week but I thought it was in April?) and do the effects some into play immediately after? I guess so since people are always queueing for petrol on Budget day?? I've never paid much attention before!

Zammo - I'll hold you to that!