Submitted on Thursday 4th August 2011
Published on Monday 15th August 2011
Current status: Closed
Closed: Wednesday 15th February 2012
Make Stamp Duty Fairer for all
I believe stamp duty when buying a property should be much fairer. Most family homes in the South East are well over the £250,000 threshold and therefore families are paying 3% on the whole property value. I believe the govenment should look at the following options;
1) Changing the thesholds by region. The average house price in the North of England is £142,800 compared to the south of england which is £273,334. Therefore a family buying a average sized house is going to cost the average family in the south over £8,200 in stamp duty.
2) If the govenment insists in keeping the current thesholds, then 1% should be charged upto £250,000 and then 3% should only be charged for any value over the £250,000 and NOT for the whole amount. This should also apply to propertys in other stamp duty bands.
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