Both the Chancellor and the Government must be concerned about the massive harm that has been done in the decrease of tax revenues following many years of excessive Stamp Duty Land Tax income.
In the second of our 2 part series on Stamp Duty Land Tax (SDLT), we discuss the alternatives to it. There is no such thing as an ‘ideal’ tax—all taxes involve some element of compromise.
In one form or another Stamp Duty Land Tax has been a feature of the English taxation system for hundreds of years. It raises significant revenue for the Exchequer, is easy and cheap to administer, and does not affect most taxpayers.
In this first blog of two, we outline some key facts about Stamp Duty Land Tax and how it affects the UK housing market as a whole.