Will stamp duty be abolished next year?

[Ladyoftheapple]

I am looking at putting my house up for sale so am wondering whether to hold off given labours plans to abolish it. Do we think this will actually go ahead?

Where is your source of this information?

Best ask Andy and John - though I doubt they even know…..

If and when it happens, there’ll have to be a lead time to get it and its replacement rolled out, so I wouldn’t hold off any plans because god knows how long it could take

It's the Conservatives that have pledged to abolish it

Burnham has ruled out any changes for the Autumn budget statement. After that, who knows...But there's concern any changes to the current system of stamp duty and Council tax will cause massive destabilisation in the property market, plus entail huge costs to implement, so I'd be very surprised if there's any major changes this Parliament.

I wouldn’t hold out on it given how much money the government receive from it!

Don't hold off unless a Bill has been passed with a definite date for enactment.

I would have said better to ask Nigel and Robert. Looks like they may hold the keys tbh

I doubt SDLT will be abolished, possibly a temporary cease to help property market as they did in Covid. How would Gov replace the income?

What plan to abolish it?

I am really worried about this too, just out our house on the market and looking to upsize. I do kind of thinking that if it is abolished there will be a frenzy in the market so might be worth getting dusted before that madness

It doesn't need a bill to abolish stamp duty, it could be done in the budget next month.

More likely to increase I would have thought.

Who says it will be abolished? Nobody who actually has the power to do so has said so.

It cant be abolished, we need the income desperately. It could be shifted to the seller though, I think thats more likley....

Replaced. By a property tax.