Quarter of homebuyers 'paying at least £7k stamp duty'


More than a quarter of home-buyers in England and Wales are now paying stamp duty at the higher rates of 3% or more, research suggests.

While homebuyers in London and the South East are hardest hit, hundreds of thousands of people across the country are being hit with stamp duty bills topping £7,500, which acts as a barrier both for first-time buyers and families wanting to buy a new home, said the TaxPayers' Alliance (TPA) study. The group has launched a "Stamp Out Stamp Duty" campaign calling for a cut in the 'punitive' tax. Sales of residential properties are free of stamp duty up to the value of £125,000 and attract a 1% tax between £125,000 and £250,000. In 2012-13, more than £4bn was paid by homebuyers in res...

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