Homeowner worries over stamp duty
Homeowners could be in for a shock as treasury officials have refused to confirm reports that they are examining ways to abolish stamp duty.
With stamp duty remaining a bone of contention for those wishing to get on to the property ladder, more people are choosing to rent property in London.
Experts are now warning that disorganised plans to abolish stamp duty could in fact worsen the housing crisis.
Some property critics believe that the move could prove as much of a disaster as the abolition of dual income mortgage tax for homebuyers 20 years ago.
Officials said yesterday (August 7th) that they refused to confirm reports that they were examining a temporary "holiday" on stamp duty.
A spokesman for the Royal Institution of Chartered Surveyors has now called for "immediate clarification" of the plans.
This follows news that a number of top London Estate Agents have been inundated with buyers enquiring as to whether they should delay their purchase.
Published 8th August, 2008
© 2008 Estates IT Limited
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Homeowners could be in for a shock as treasury officials have refused to confirm reports that they are examining ways to abolish stamp duty.