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Article: Londoners pay [pounds sterling]1 billion in stamp duty each year; PRESSURE ON CHANCELLOR TO RAISE THRESHOLD OF 'STEALTH' TAX IN THE CAPITAL.
- Article from:
- The Evening Standard (London, England)
- Article date:
- March 8, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JONATHAN PRYNN;PAUL WAUGH
GORDON BROWN is reaping more than [pounds sterling]1 billion a year for government coffers in stamp duty from the London property market.
The Standard can reveal that the total collected by the Treasury from London property buyers has passed the landmark figure for the first time.
The average property buyer in the capital now hands over [pounds sterling]6,017 in stamp duty.
The figure - uncovered from Inland Revenue statistics - will add weight to calls for the Chancellor to ease the burden of what is seen as an unfair tax on London in next week's Budget.
The amount the Government pockets from ...