|
|
Article: Should paying stamp duty be responsibility of home buyers or sellers?
- Article from:
- Mortgage Strategy
- Article date:
- July 2, 2007
CopyrightCOPYRIGHT 2007 Centaur Communications 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)
|
Labour MP Peter Hain thinks sellers not buyers should pay Stamp Duty, but our experts think the problem is the tax itself
Thomas Reeh is chief executive officer of blackandwhite.co.uk
Let's talk about tax, or more specifically, stealth taxes. Stamp Duty is a stealth tax and should be scrapped. After all, what do buyers or sellers gain from it?
Stamp Duty was first introduced in 1694 during the reign of William and Mary under "an Act for granting to their majesties several duties on vellum, parchment and paper for four years towards carrying on the war against France".
I'm sure this piece of information is comforting to home ...