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Article: Stamp duty rise targets most expensive homes PROPERTY Budget March 98
- Article from:
- The Scotsman
- Article date:
- March 18, 1998
- Author:
CopyrightCopyright 1998 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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WHEN the Chancellor, in his speech, pointed out that his decision
to raise stamp duty on higher-priced properties would leave 98 per
cent of homebuyers unaffected, he may have been thinking of
constituencies like his own, Dunfermline East, but certainly not
that
of his deputy at the Treasury, Alastair Darling, the member for
Edinburgh Central.
Recent stories of huge uplifts in the price of relatively modest
properties confirm that, even in Scotland, houses costing more than
GBP 250,000 are no longer the prerogative of the super-rich.
Stamp duty will continue not to be levied on house sales up to
GBP
60,000 and will remain at 1 per cent on sales of up to GBP 250,000.
But above that the rate ...