Petition to abolish STAMP DUTY !!!

michaels

Stamp duty makes it expensive to move so if people get jobs elsewhere they chose to commute rather than move. Environmentally that makes it a bad policy whatever its economic merits.

I personally have a big problem with the bands applying to the whole value of the property rather than just the extra bit over each threshold - imagine if income tax was the same - if you became a higher rate tax payer all your income would be taxed at 41% rather than just the bit over the threshold, getting a pay rise taking you over the threshold would actually make you much worse off - it doesn't make sense to me.
Last point, it is a bit like national wage agreements - a national rate of pay results in an excess of teachers in some of the cheaper and often nicer parts of the country and and a big shortage in areas like London where living costs are high and pupils more difficult. Same applies to stamp duty, higher bands hit average families (or even first time buyers) in some parts of the country but don't effect equivalent properties in cheaper areas.

Gorgeous_George

I think there should be no SD exemption level but that the steps should be less severe.

Furthermore, SD should be payable each year and not just when a property changes ownership. Why should a house that changes hands 4 times in 10 years generate 4 times the SD than it would have had it changed hands just once.

It should also be payable by tenants of rental properties. Why should owner occupiers pay a tax that tenants don't?

Perhaps it could be paid in lieu of Council Tax.

Finally. people ove 60 who downsize should have a sum of money, equivalent to the SD of the property being left, paid to them. this would encourage the elderly to move into smaller homes thereby freeing up larger, family home for the younger generations.

Shall I start my petition now?



GG

Generali

nollag2006 wrote: »

Net result was that the purchaser still suffered, and the vendor benefitted at the expense of the taxpayer

A seller of a house is a taxpayer by definition as they will have been paying property taxes. I'm sure they would rather have the money than see it wasted by the government.

They are free to give the money to the finance ministry if they feel differently of course.

Horasio

I have put my name to these petitions but the government always has some BS excuse and will do what they want anyway.

They don't care about anyone except how they appear and their ego