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Article: Stamp duty 'must be reviewed'
- Article from:
- Western Morning News, The Plymouth (UK)
- Article date:
- March 8, 2007
- Author:
CopyrightCopyright 2007 Western Morning News, The Plymouth (UK). Provided by ProQuest LLC. (Hide copyright information)
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A call for a review of stamp duty - the tax people pay when they
buy a home - has been made following research which shows the
rocketing housing market is drastically increasing the number of
people paying the tax.
Research by the Halifax Bank has found that parts of the
Westcountry, where house prices have increased enormously over the
past decade, have shown a big increase in the number of properties on
which higher levels of stamp duty are payable.
One in five homebuyers in England and Wales are now over the 3 per
cent stamp duty threshold of pounds250,000.
Six out of the ten places in England and Wales with the biggest
increases in average stamp duty bills are in the Westcountry - five ...