Stamp duty could be improved without tax loss, says CML

A stamp duty reform could improve the system significantly without necessarily reducing the tax yield, according to new research by the Council of Mortgage Lenders. Stamp duty has been making an increasingly important contribution to Government finances in the last couple of years, with a total of duty levied in 2001/2 amounting to £2.76bn, compared to a total of £830m four years earlier. However, research made by the CML suggests it is possible to improve the stamp duty system without the Government losing any of its revenue. One of the main problem with the system is,...