Will the HM Treasury’s plan to replace stamp duty with a new property tax be an effective tool to get the housing market moving and generate revenue for the public purse or is it just another wealth tax in disguise?
Stamp duty land tax (SDLT) has long been considered by economists the biggest barrier to moving home, so a revision of the current system is a positive step. The government’s proposal is to charge a tax on the sale of homes above £500k.
