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‘Unfair’ Stamp Duty Taxation Needs to be Ended, Says Report

Stamp Duty is a ‘badly-designed tax which gums up the property market’, say the latest findings from campaign group, The Taxpayers’ Alliance.

Stamp Duty Should be Ended - Taxpayers' Alliance

Stamp Duty is a ‘badly-designed tax which gums up the property market’, say the latest findings from campaign group, The Taxpayers’ Alliance.

The group asserts that the Stamp Duty Land Tax should be slowly removed from the property market to improve affordability for first-time buyers.


Commenting on the market effect of Stamp Duty, chief executive of The Taxpayers’ Alliance, Jonathan Isaby, said: ‘For decades, politicians have failed to tackle the root causes of the housing crisis: a chronic lack of supply.’


Mr Isaby also called on the new Chancellor, Philip Hammond, to ‘seize the opportunity to drastically simplify and reduce property taxes’.


The group also highlighted the new Stamp Duty surcharge, a 3% rate increase for landlords and second home purchasers, as a target for the government to repeal.


The Taxpayers’ Alliance claims that an additional £60million has been collected from the new surcharge since it was introduced on April 1st.


With changes to the tax relief system available to landlords also due to come into operation over the next year, the group said that tenants may be subject to higher rent increases, as landlords look to pass on some of the cost of this higher taxation.


Earlier this month, Yorkshire Building Society revealed that the deficit of properties in the UK has now reached 2.4 million since 2004.

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