PROPERTY SEARCH

Buy

Rent

SHOW UNDER OFFER

Will new PM Boris work on stamp duty

The new Prime Minister, Boris Johnson, prior to his election, expressed an interest in making seller’s pay stamp duty.

 As recently reported in the national press, The Association of Accounting Technicians (AAT) claims Johnson is considering adopting its policy of switching the burden to the seller.

AAT had previously come up with analysis leading to a recommendation that the burden for stamp duty should be switched to the buyer.  

Their spokesperson said:

“AAT is naturally pleased that Boris [Johnson] has agreed to look at our long-standing proposal … this will save the taxpayer £700m a year by rendering first time buyers relief redundant.

“It will also protect the £9 billion of revenue stamp duty generates as it will still be paid in full, simply by different people. It is also much more progressive as it will be paid on the lower priced property being sold rather than the higher priced property being bought” says an AAT spokesman.

We reported two months ago that the stamp duty receipts for the last financial year was just under £9 billion, some £802m less than the previous year, and was the result of higher levies placed on investors and top of the market properties.

Michael Bolger, Sales Manager of Ealing, comments: “It’s an interesting idea, but I don’t see change anytime soon given the main priority for Boris seems to be an exit from the EU.”

Will new PM Boris work on stamp duty


Other News

Go View London are recruiting

We are recruiting for positions in sales and lettings at the moment.  If you would like to be considered for a position please email recruitment@goviewlondon.co.uk .


Monthly newsletter #65 now released

We have just released our 65th monthly newsletter to our client database and it conatins news on a increase in sales transactions, a reported fall in Ealing's population and recruitment news from Go View London.


Great, unique sale on Churchfield Rd, W3

Our Acton sales office was delighted to have just exchanged contracts on a unique four storey building in the heart of Churchfield Rd, Acton near to where our local office is based.