Submitted on Saturday 17th April 2021
Rejected on Thursday 22nd April 2021
Current status: Rejected
Rejection code: duplicate (see below for details)
Permanently raise the Stamp Duty threshold to £500k for residential purchases
Newly released research has highlighted how many homebuyers could benefit each year should the government permanently increase the tax thresholds. The current stamp duty holiday has helped boost demand amongst homebuyers.
The archaic tax should be revised as it encourages owners to stay put.
A permanent extension of stamp duty threshold could provide a fiscal surplus of £139m per year, generated by higher consumption and increased housing market activity, according to Kensington Mortgages.
Kensington's analysis shows that higher property values could lead to SDLT, LBTT, and LTT receipts generating £256 million in additional revenues each year. Combined, higher property values and transaction numbers could generate £523 million of annual revenues to the Treasury.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition calling for the same action: petition.parliament.uk/petitions/566462
18.225.57.136 Tue, 19 Nov 2024 20:42:59 +0000
