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We desperately need a stamp duty holiday-discuss

(8 Posts)
1dilemma Fri 11-Jul-08 23:10:26

OK this heading caught my eye as I wizzed past to work this AM not sure which paper (D. Express maybe)
I think we need this as a country like we need a hole in the head.
Anyone want to tell me why I'm wrong?

noddyholder Sat 12-Jul-08 08:06:25

This is ridiculous.I know lets give your average buyer a break by not taxing them 1% of the price so that we can keep the ridiculous asking prices and mortgages a bit longer.Buyers do not need a couple of thousand or so off at the beginning they want cheaper houses!Obviously if you are buying it would be a nice gift but over the 25yrs you are overpaying for a house it is meaningless.This would encourage people who can't afford to buy to try to get on the imaginary ladder only to find they can't afford their mortgage at a later date.Why can't people accept its over ?

lalalonglegs Sat 12-Jul-08 08:32:40

Absolutely agree with noddy. Of course no one likes paying stamp duty but we have among the cheapest property taxes in Europe. There might be an argument for delaying payment for a year after purchase to allow you to absorb some of the other moving expenses first because if you're buying a home more than £500k, 4% does sting but I never understand the argument that first-time buyers who are purchasing below £250k are crippled by it.

TheBlonde Sat 12-Jul-08 08:39:10

gov can't afford it now, revenue from stamp duty will be falling as the number of house purchases has dropped

1dilemma Sat 12-Jul-08 14:36:58

Agree wiht you all and blonde more tax on petrol do you think?
the shortfall has to come from somewhere
delaying is an interesting idea lala will think about it

(I'm not Alistair Darling BTW grin)

1dilemma Sat 12-Jul-08 14:42:04

Actually blonde just had a thought extra tax could easily be made by making all BTL income taxable prior to deduction of any expenses, there's a rich vein there for the tapping I bet!
Also the poor non doms....

TheBlonde Sat 12-Jul-08 16:04:23

I think the non-doms should be left well alone! Not that I have a vested interest at all wink

1dilemma Sun 13-Jul-08 00:51:09

the poor non-doms shock

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