Troubleshooter

The best test of whether Stamp Duty is effective at controlling the housing market is to assess whether the increases brought about in 1997 appear to have slowed the market significantly. The threshold when Labour came to power was 1% for all purchases above £60,000, with an exemption for purchases below that. Today, although the exemption and 1% threshold remains, transactions above £250,000 are now liable for 3% duty, and 4% over £500,000. In total, Labour has increased Stamp Duty four times since coming to power ' in 1997, 1998, 1999 and 2000. During that time house prices have r...