stamp duty...

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Wednesday 27 June 2007 2.10pm
how can the government justify stamp duty..and what pot does that go into?

where can an ordinary member of the public find out how much money is collected from this?
Wednesday 27 June 2007 3.23pm
Here's some information on how much is collected:

http://money.guardian.co.uk/tax/inheritancetax/story/0,,1964457,00.html

Note that stamp duty is payable on share purchases as well as property purchases.

I guess it goes into the Treasury's revenue pot just as all other taxes.

This includes a comparison with other countries (as a percentage of total revenue raised as opposed to actual rates):

http://www.ifs.org.uk/budgets/gb2004/andrew.ppt#257,1,The taxation of housing
Monday 2 July 2007 5.44pm
Can a Government justify any tax.....

I suspect it has a particularly negative impact on retaining a mixed community in SE1, where a family sized home is almost certainly in the top tax bracket. Which means that if we want to move house all the increase in mortgage we could afford would be swallowed up by stamp duty and other moving costs. So the choice is to stay put or move out of the area. As our kids approach secondary school age three families we know well have just announced that they are taking the latter route.

Really sad. There again if you throw the secondary school problem (my son is in Year six and still has not been offered a place at ANY state school for September) and it is not surprising people leave. And no demand means that developers dont build larger properties. And so it goes on.
Tuesday 3 July 2007 7.16am
What a shame Sarah..I think the council or Ilea authority who ever took the decision to sell of school buildings should be shot..they said that failing numbers of pupils did not justify so many schools..
blind to the fact that immigration was increasing and more children would mean more schools.

Once again along with elderly, children are counted as units to be placed in unsuitable schools not of parents choice and in many instances the childs either!
Moving out of the area is not an option for some people if there work is London based.

I did not realise how much the stamp duty was until I found out how much one of my daughters was paying for a small house. Her fiance's family are selling a large house so heaven knows what the stamp duty would be for the purchaser!
Monday 9 July 2007 12.34pm
Thanks Jan.
I had assumed that our child has not been offered a secondary school place because they saw we owned our own home and therefore assumed that we could send him privately. (Though this has left me oddly resentful that I need to effectively do two jobs in order to educate our children - when plenty of very nice people we know do not seem to need to work at all.) However I now hear that at least 2 year 6s in our local Primary are similarly affected and are relying on appeals to get them a place...

We are at the end of the summer term. This is completely unacceptable and as far as I can see the problem is getting worse. When Lambeth finally phoned up about a month ago - they might have a place in Camden - they would not say how many others were in the same position. Yet a couple of months previously a local Councilllor in a public meeting denied that there was any problem.

Lambeth - who I understand have places for about 40% of their secondary school children - are in a better position than Hammersmith and Fulham who apparently only have places for 25%. Lambeth would have even fewer places had it not been for a parents campaign in Brixton which resulted in the creation of a new school. Whilst local action prevented the closure of a couple of local primary schools, one in Southwark and one in Lambeth, both of which are now heavily over-subscribed.

I feel sorry for the poor kids who must feel awfully rejected as all the other kids look forward to "big school". Given the amount of property that has been converted from old school buildings I think some stamp duty should be earmarked for education. Interestingly Lambeth is looking at the future of the old Lilian Baylis site, yet again at a public meeting the local Councillor confirmed that the one option that would not be considered was education.

I assume with this (hidden) crisis it will be very hard for any Government to take away private schools charitable status. They absolutely need the private sector to expand! So I am sure we will see lots of huffing and puffing but no action.






It must
Sunday 15 July 2007 11.26am
Ouch, Sarah. Some now ex neighbours of mine are just off to Dorset, hoping to arrive there by the start of September for exactly the same reason.

SDLT is partly to blame for the rapidly increasing housing market. Eliminate SDLT - opr reduce it to 0.5% and market liquidity is greatly increased.

One of Mrs Thatcher's greatest achievements was selling off Council Houses. Now that they owned their own house, people could sell and move without having to be rehomed by their new Council. This increased mobility in the labour market, which helped Britain become prosperous in the 1980s and 1990s.

Now thanks to SDLT labour is virtually immobile. If it costs you 40,000 in stamp duty to move house then it's one dickens of a pay rise that you'll need to justify moving.
Monday 16 July 2007 7.25am
Some guy in the u.s.a. is taking the government to task and saying thay any tax is illegal...ummm..wonder if that would work with my flipping council tax!

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