Simplify the UK tax system by stopping Stamp Duty Land Tax (SDLT)

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Simplify the UK tax system by stopping Stamp Duty Land Tax (SDLT)

Petition Details

Paid on the purchase of a property, it currently generates approx. £13B pa in revenue, but is a barrier to entry of the property market as it must be found by the purchaser. Replacing it by extending existing Capital Gains Tax rules to primary residences would net an additional £15B pa in revenue.

Additional Information

Extending existing Capital Gains Tax rules to primary residents could raise £28B pa in revenue. Removing SDLT makes entry into the property market easier &, as its paid on the profit element of any sale, the Sellers will have sufficed funds available from selling to pay any Capital Gains bill received. This proposal has the added benefit of reducing the incentive for cash in hand work as properly receipted works to the property can be offset against the capital gain. Increasing revenue further.

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