Stamp out unfair home tax, Gordon ; 'STEALTH' RISE COSTS ON AVERAGE pounds 1,100 3 STAR Edition

Although the minimum threshold went up from pounds 60,000 to pounds 120,000 in 2005 and by another pounds 5,000 a year later, our table shows it should now be pounds 325,000 if the tax bands had kept up with house prices. Even more stamp duty is being raised on more expensive homes. The pounds 250,0...

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Bibliographic Details
Published inSunday mirror (London, England : 1963)
Main Author Watts, Lynda
Format Newspaper Article
LanguageEnglish
Published London (UK) MGN Ltd 18.03.2007
Subjects
Brown, Gordon
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Summary:Although the minimum threshold went up from pounds 60,000 to pounds 120,000 in 2005 and by another pounds 5,000 a year later, our table shows it should now be pounds 325,000 if the tax bands had kept up with house prices. Even more stamp duty is being raised on more expensive homes. The pounds 250,000 and pounds 500,000 thresholds have not moved since July 1997. The percentage payable on properties in those bands has also risen - from 1.5 per cent to 3pc for properties between pounds 250,000 and pounds 500,000 and 2pc to 4pc on homes above pounds 500,000. Experts reckon that if the higher thresholds had risen in line with house price inflation since July 1997, the pounds 250,000 threshold would now stand at pounds 650,000 while the pounds 500,000 would be pounds 1,300,000.