Stamp Duty
The Conservatives propose to eradicate stamp duty for "first-time buyers" on house purchases of "less than £250,000".I'm not sure if there are more details. For instance would someone who bought a house for £300,000 only pay stamp duty on £50,000, ie the balance, or on the whole lot? I think the reason a lot of people didn't like stamp duty was that it was levied at higher bands on all of the house value, rather than just the balance over each banding level. And will there be issues with "first-time buyers"?
Also, as many people say about the minimum wage, will there be regional variations? In the North-East very few buyers will pay stamp duty, but in London most will.
Labels: 500, Things that might have saved me £2000
posted by Matthew @ 10/01/2007 08:55:00 AM
Comments: 0
