A vocal group of around 50 Conservative right wing MPs wants an end to stamp duty - except for additional homes such as buy to lets and holiday properties.
The Conservative Growth Group of backbenchers is branding stamp duty as “unfair” and is urging Prime Minister Rishi Sunak that it be scrapped for owner occupeirs but not for second homes.
The group consists largely of those who served in the notorious short-lived administration led by Liz Truss last autumn.
The chair of the group, Ranil Jayawardena, has told the Daily Telegraph that stamp duty is “not at all Conservative and not very British” and adds: “We should be making it easier for people to get on and up the property ladder at an early age, and to climb down the property ladder in later life.
“People buy their home out of taxed income. Why double tax them for buying what for almost everyone is their biggest purchase?
“It punishes first-time buyers and second-steppers alike and makes it much more difficult to join the home-owning democracy.”
A response from HM Treasury says: “We’ve cut stamp duty on 98 per cent of all properties and just under half of all purchases pay no stamp duty at all.
"Stamp duty is an important source of government revenue, raising £14 billion in 2021-22 to help pay for the public services like the NHS, police and schools.”
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Of Course they do they don’t want people buying second homes.
They are looking after their friends taken over with high rise blocks of Flats (suitable or not), exempted from many rules already.
They don’t want to end up with white elephants they need our Tenants.
And this is news ?? 😂😂
The government is doing a good job in removing private landlords. They believe corporate buy to let and shelter will do a better job. However, the evidence of Grenfell and other council and housing charities have shown that they are not administered very well and have been very risky for the tenants. They all go free from any penalties or imprisonment. This saga continues with the government blessings. Landlords pay quadruple taxes. When they buy properties, it is from the taxed income, so stamp duty and then tax on rental income and again capital gains when they sell the property. This is totally unfair and criminal affair and they call it legal. More like criminality legalised.
Corporates are there to make huge profits. They will have staff to administer and no accountability. Huge profits and run more like the councils and shelters. They will have sufficient staff and clout to fight the government. UC will need to rise to pay these corporate landlords like as if they are hotel owners. Good luck tot he government and ultimately to the working tax payers, who will pick up the inflated prices from the corporate landlords. We are a nation of helping single mothers, some of them deliberately in that situation to be independent of their parents and not wishing to work. I have seen these so called single mothers get accommodation and have the same partner, the father of the child staying there without wanting to be on the tenancy agreement. That is legal as well to get out of being named on tenancy agreement, as the government has made it legal so landlord cannot visit the house without the tenant's permission. This is all no weighing heavily on the landlords. As my properties become without loans, I shall start selling, 3 by end of this year.
None of the governments Housing interventions in the last 13 years have been ' Conservative ' - more akin to Socialist Left-wing, which is how they 'stole' labour Red wall votes ( at law-abiding, business owners, hitherto Tory voters expense )
Yep, and they will be oblitorated at the next election.
We never get a fair crack of the whip in the media LBC have spent years knocking us, now gone quiet to damage is done, ITV the same showing the single parent family’s on Benefit with the black mould she created.
Vibha Spalding it's worse than that. All the institutions are anti PRS landlord! As far as the local authorities are concerned you are some dummy that they can unload their problems on!
As well this is a classic situation where we have gamekeepers turned poachers, financial institutions have become property speculators,builders, landlords, etc. Where is the FCA ?
My tenants are very happy with their current situation. They pay a reduced rent because, with their agreement, I gave up on my agent many years ago. I have had to put the rent up because of the interest rate hikes. They will not be able to find anywhere similar at a similar price. As they are very good tenants and we have a good working relationship I am happy for them to stay.
When they move out I will be selling as my previous tenant all of those years ago was awful. This was when I was using an agent. I will not risk that happening again with all of the recent changes.
That will be one less 2 bed for rent!
My tenants are very happy with their current situation. They pay a reduced rent because, with their agreement, I gave up on my agent many years ago. I have had to put the rent up because of the interest rate hikes. They will not be able to find anywhere similar at a similar price. As they are very good tenants and we have a good working relationship I am happy for them to stay.
When they move out I will be selling as my previous tenant all of those years ago was awful. This was when I was using an agent. I will not risk that happening again with all of the recent changes.
That will be one less 2 bed for rent!
So the government raised 14 Billion in 21-22 in Stamp Duty to help pay for the NHS, police and schools.
So as it is from taxed income and we also pay tax on rental income and then capital gains when we sell we seem to paying through the nose for government spending.
Not forgetting National Insurance. Our only option for income to cover the massive rises in interest rates is to raise rents. If anyone thinks that rents will be lower for all of the blocks of flats that the corporations will build...... cloud cuckoo land springs to mind!
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