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Tax advisers urge Osborne to cut Stamp Duty
Tax experts have urged Chancellor George Osborne to reduce Stamp Duty in his Autumn statement.
The advisers sugggest that the Treasury should consider lowering the Stamp Duty Land Tax on properties changing hands at between £250,000 and £300,000, according to the Telegraph.
Accountants PwC estimate that such a move would cost government around £150m, less than 1% of the total Stamp Duty take of £16.6bn raised since 2010.
The Telegraph said radical reform of Stamp Duty is not expected in the chancellor’s speech but flagged that the average house price is nudging £250,000 at £246.693.