Reeves’ plan to remove stamp duty

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Alternatives to stamp duty bring considered. Sounds good.

Posting link next

Sort out the bloody archaic inheritance tax laws first!

Link

www.theguardian.com/money/2025/aug/18/rachel-reeves-stamp-duty-property-tax-council-tax

You mean they want to introdice property tax, like almost everywhere outside the UK? Changing homes will become easier, and people will be borrowing less because they'll know they'll be able to upsize when needed without being punished with SD.
It sounds too sensible, so unlikely happening.

Am I going to get a credit against the property tax for the almost £70k I have paid in stamp duty moving up the ladder…no, thought not!

Fucking sort out leaseholds and people being held to ransom over service charges, first. They’ve been dangling that one for years and it’s an absolute money racket, crippling people that, after huge amounts of saving and graft, were finally able to get on the property ladder, into a flat because that was what was available and within budget only to have to find x extra amount of money quarterly or whatever their leasehold company decides to set. Ours goes up by £100 2x a year, it’s at £2,000 annually now, but it’s showing no sign of stopping and I know some have it even worse.

Removing stamp duty is a good idea - I’m in London and a family home might have a six figure tax bill…. Which just stops people moving, it’s insanely high.

But - how much will the property tax it’s replaced with be? and would this be on top of council tax?

I suspect whatever happens, those of us in HCOL areas will end up being worse off. I appreciate the desire to target wealth, but us younger folk mainly just have large mortgages…!

Maybe 5-10 years property tax "holidays" for the ones affected by SD.

About bloody time.

It’s going to be interesting to see what they think will work better. Glad they’re looking at removing stamp duty and reforming property taxes more widely.

I wonder if other countries have an analogue of council tax at all, because it pays for many things that are paid from income tax in other countries.

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The link above was from the Grauniad.

Thanks, I've missed it.

Looks like they are going to introduce property tax without removing council tax.

"A national tax could be implemented during this parliament, while it is understood an overhaul of council tax would take longer"

Yes, there could be a national tax once you sell a house over a particular value, replacing stamp duty, and then alternatives to council tax separately, probably a local property tax. As posters above said, a less regressive tax regime more like what happens elsewhere.