PBR 2009: Lenders concerned by stamp duty decision
Lenders have expressed disappointment that the government has decided against extending its stamp duty holiday programme past the 31 December 2009 deadline.
Since September 2008, buyers of properties valued at between £125,000 and £175,000 have been exempt from paying stamp duty of one per cent. This resulted in an estimated 132,500 house purchase transactions in that time. However, Alistair Darling today confirmed that the scheme would not be extended.
She added: 'First-time buyers are the lifeline of the housing market, and it's a shame to see this support come to an end at a time when the wider housing market is still in recovery.
'The current slab taxation system is unfair as it means that if a person falls into a higher threshold, even by just a few pounds, they pay the higher rate on the whole amount. This penalises all buyers, but particularly struggling first-time buyers and those in the South East, who are more likely to fall into the higher tax band.'
Advertisement
Recommendations
Top Ten Life Funds
| Fund | Offer | 1y | 3y | 5y |
|---|---|---|---|---|
| UBS Life Structured Credit A | 85.39 | 230.1 | n/a | n/a |
| Skandia Finland FIM Russia | 11.36 | 185.6 | -3.8 | 79.2 |
| Skandia Finland JPM New European | 1.96 | 140.9 | -9.1 | n/a |
| Canlife SVM UK Opportunities LS4 Acc | 103.40 | 133.4 | -13.8 | 35.5 |
| Skandia Finland Alfred Berg Ryssland | 0.86 | 132.8 | n/a | n/a |
| AXA JPM New Europe | 193.80 | 132.1 | n/a | n/a |
| Zurich Sterling JPM New Europe | 258.80 | 130.6 | n/a | n/a |
| L&G SVM UK Opportunities | 100.32 | 130.0 | -16.4 | n/a |
| Skandia JPM New Europe | 253.10 | 128.8 | 18.2 | 98.1 |
| Merch Inv Sanlam Global Financial S6 | 106.50 | 126.4 | n/a | n/a |
Special Offers
- Annual report service
Free access to annual reports and other information
on selected companies


