More than a quarter of home-buyers are now getting hit with a Stamp Duty bill for £7,500 or more, paying the punitive 3 per cent rate.Stamp Duty is a challenging obstacle in the way of first-time buyers who dream of owning their own home. It also creates problems for anyone with a growing family and anyone who needs to move to take a new job. And it discourages elderly people from downsizing to a smaller property more suitable for their needs.
The structure of the tax is a mess. The two major recent reviews of the tax system – the 2020 Tax Commission, from the TaxPayers’ Alliance and the Institute of Directors, and the Mirrlees Review from the Institute for Fiscal Studies – concluded that it should be abolished.
We are launching a new campaign – Stamp Out Stamp Duty – to do something about it. Our message is simple: the Government should cut Stamp Duty. New TaxPayers' Alliance research out today shows how many people are affected by punitive rates of Stamp Duty; we are organising grassroots events around the country; and we need your help to put pressure on the politicians:
We are launching a new campaign – Stamp Out Stamp Duty – to do something about it. Our message is simple: the Government should cut Stamp Duty. New TaxPayers' Alliance research out today shows how many people are affected by punitive rates of Stamp Duty; we are organising grassroots events around the country; and we need your help to put pressure on the politicians:
Once you have done that, there are other ways to help:
- Please let your friends and family know about the campaign and encourage them to write to their MP, through the StampOutStampDuty.org website.
- Reply to this email and let us know if you would be interested in organising a grassroots stall letting people know about the campaign in your area.
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