Our use of cookies As part of PrimeResi’s panel of property leaders, Claire Whisker of First In The Door is urging the the Chancellor to ease the tax burden on residential property in the UK.
“The time approaching every budget is full of uncertainty and sometimes anxiety. There are often rumours of what may or may not happen, as regards property, most of which doesn’t happen. This year the fear is more tax aimed at either property directly through the recently mentioned wealth tax, or more tax or costs associated with the transitional costs of moving. For a lot of people in the higher price bands the escalating stamp duty table means 19% additional cost on top of the purchase price, and that is before lawyers fees, agents fees, removal costs etc. Any change that adds more burden to the cost of moving we think will be detrimental to all levels of the market.
“In terms of hope – we always hope for the aforementioned to be reversed, so that the market starts to flow again, but this current government may not see the long term benefits of this policy in terms of the extra revenues generated by allowing people to buy and sell more freely.”