Property tax changes debated

Posted: 04 Sep 2009 11:14:49 GMT

The issue of property tax has been discussed by Ray Boulger, spokesperson for UK mortgage adviser John Charcol.

He claimed that the government's decision to extend the so-called stamp duty holiday to properties bought for £175,000 - announced in April's Budget - was "helpful", but more could have been done.

Mr Boulger suggested that the property tax is calculated in the wrong manner.

"We had Gordon Brown when he was chancellor saying that he wanted fairer taxation and every year he had the option to change how stamp duty was calculated and every year he refused to do it," the expert explained.

Instead of having a stamp duty of one per cent for property purchases up to £175,000, there should be a two per cent levy up to £250,000, he added.

Most homebuyers will therefore be paying no more than they are at present, Mr Boulger continued.


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