17 Mar

Stamp duty rules 'should be changed'

Stamp duty rules 'should be changed'

Investors buying more than one property at a time should be charged stamp duty on each home separately, it has been argued.

Richard Bowser, editor of Property Investors News, said the current system of making those buying homes in bulk pay the duty on the sum total of their value is "illogical".

He said a suggestion from the British Property Federation that this will be changed in the forthcoming Budget amounted to the body "flying a kite", but added that he hoped it was a kite with "enough wind behind it" to prompt such a move.

This would help to create a "level playing field" with other buyers, Mr Bowser concluded.

At present the lowest stamp duty threshold is £175,000, above which it is paid at one per cent.

Last September, the Treasury raised this from £125,000 for a one-year period.
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