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Article: Suspension of stamp duty i?1/2woni?1/2t worki?1/2.
- Article from:
- Accountancy Age
- Article date:
- August 14, 2008
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Byline: Judith Tydd
Suspension of stamp duty 'won't work'
Judith Tydd
A stamp duty holiday will not work in boosting the property market, a leading tax adviser has said.
According to Mike Warburton, Grant Thornton's senior tax partner, the Tories' suspension of stamp duty for nine months in 1991 failed in what it was designed to achieve.
'It [suspension of stamp duty] didn't do any good then and it won't do any good now,' he said.
Earlier this week, chancellor Alistair Darling rejected a third request for a meeting with estate agents over proposals to lift the tax, refusing to be pushed on the issue.