AMI: Stamp duty threshold should be raised

Posted by Mark Cunningham

The threshold above which stamp duty becomes applicable when consumers purchase homes should be raised, an industry body has claimed.

According to the Association of Mortgage Intermediaries (AMI), the holiday on the levy for residences worth less than £175,000 implemented by the government to stimulate the housing market in the wake of the credit crunch was a welcome move.

At the end of last year, this ceased and the threshold has been restored to £125,000.

The AMI suggests that that this should be increased on a long-term basis to £250,000.

It made its comments after the Conservatives announced they would introduce such changes if they were elected to power.

Director of the AMI Robert Sinclair said: "The current stamp duty regime distorts the market and prevents first-time buyers from getting a foot on the property ladder."

He added that raising the tax threshold would provide a welcome boost to the country's property market.
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04/02/2010 16:08

News category: Property

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