Abolish CGT and stamp duty surcharge for small residential renovations

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Abolish CGT and stamp duty surcharge for small residential renovations

Petition Details

I would like the government to abolish the stamp duty surcharge for small residential renovations, which would be primarily be aimed at small developers, and to abolish Capital Gains Tax for renovations of properties that have fallen into disrepair.

Additional Information

There are over 600,000 properties in the UK that are either unfit for purpose, or in a state of serious neglect.

The introduction of the stamp duty surcharge seriously impacted the appeal of small residential renovations, which were traditionally conducted by small builders or developers, and the winding down of the Capital Gains Tax allowance could see these renovations stop completely. The abolition of both will bring more properties to the market for first time buyers.

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