Would You Prefer To See Stamp Duty Abolished Up To £250 000 And Savings Tax Abolished Altogether?

I'd prefer to see stamp duty staggered rather than the current system where it's 0% up to £175K (or £250K if you're a FTB) but 1% of the total value over this. It should be 0% up to £250K, 2.5% of the value between 200,001 and 500,000 then 5% from 500,001 to 750,000 then 10% on 750,001+. Make the wealthy pay proportionately more while allowing low and middle income workers afford their homes.

I agree with G-Man. It also seems daft to me that you pay the tax on the whole amount. Our last house, which we're renting out at the moment, is worth round about £250K and we know we have to go under that price as the stamp duty will kick in otherwise. So nothing much is going to sell for between 250 and 300K. Once you hit that level you'd be more likely to accept the increase in the stamp duty.

Hmm. Might have just changed my mind a lot. How about:

1) Abolish stamp duty and land regristration tax

2) Abolish all tax breaks relating to the sale of property and its renting out

3) Re-align CGT with income tax

So...

a) No one pays tax on a purchase, but they do pay on a sale - which makes sense as asking for taxes when someone has no money as they've just bought a house is silly, it's better to request tax payment after a house has sold.

b) Rich people don't pay 18% CGT rather than 50% income tax.

c) Landlords don't duck tax by matching rents with interest payments while taking their cash tax-free by re-mortgaging to extract equity.