A report examining the impact of stamp duty and painting a picture of an economy without it has prompted more calls for its abolition.
Research from Oxera suggests stamp duty on share transactions is damaging the economy, eroding pensions and savings, and hitting the investment industry. The report ‘Stamp duty: its impact and the benefits of its abolition’, which was commissioned by the Association of British Insurers (ABI), the City of London Corporation, the Investment Management Association (IMA) and the London Stock Exchange, suggests stamp duty is being paid by ordinary people whose savings and investments are being reduced as a result. It suggests stamp duty, a government levy of 0.5% on purchases of shares of UK l...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes