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Article: Lib Dems propose cut in Stamp Duty.
- Article from:
- Mortgage Strategy
- Article date:
- September 24, 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)
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The Liberal Democrats have proposed to raise the threshold for Inheritance Tax and Stamp Duty to #500,000.
The news will go down well with supporters of Mortgage Strategy's Step Up Stamp Duty campaign, which has been generating support since it launched in November 2004.
A report by the party says cuts in Inheritance Tax and Stamp Duty, which now apply to large numbers of consumers because of rapidly rising property prices, will be paid for by abolishing Capital Gains Tax breaks and only providing tax relief for pensions at the standard rate.
It adds that the current structure of Stamp Duty makes it hard for first-time buyers to get on the ...