Estate agents call for changes in stamp duty and green tax
www.moneynews.co.uk > Housing market > Estate agents call for changes in stamp duty and green tax
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Money News |
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Estate agents call for changes in stamp duty and green tax
Thu 21st Feb 2008
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It is concerned that first-time buyers are being unfairly penalised by stamp duty, as they are already priced out of the market.
The NAED is therefore proposing a new scale based on thresholds similar to income tax, so that, for example, on a property worth £250,000, the first £200,000 would be under the threshold and would not be taxed.
Stewart Lilly, a spokesman for the body, warned the government that it "needs to be aware that with rising inflation consumers need a helping hand".
He has also called for VAT reductions or exemptions on green products, specifically a lower tax on building conversion and VAT-free eco-products.
"We would like to see green policies made more accessible to the average consumer", he added.
Mr Lilly also said that he hoped preferential VAT policies would encourage people to be more energy efficient in their homes.
According to recent research conducted by thinkproperty.com, nearly 70 per cent of British homeowners would modify their properties to make them green if the government provided incentives to do so.
Related News : Housing market |
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