Stamp Duty

[Euro-commuter]

It's called fiscal drag a review would mean employing more Civil servants

and the Exchuequer receiving less tax. Don't hold your breath.

[Xenophon]

I am in the same boat. Providing this purchase doesn't fall through like the last, I will be paying over £12k solely for Stamp Duty. Absolutely gutted.

[Darren@UptonAccountants]

Stamp Duty

Stamp duty & IHT are the most unfair of taxes.....SD in particular as it doesn't even require any policing due to the solicitors carrying out all the work and collecting the cash!! Easy money for no effort!!

[rootsnall]

I'm just about to shell out 10Kish ! It could be worse, somebody told me in Florida its 2% per annum, probably coming our way soon.

[BrilloPad]

Every one of them wanting a job in IT management!!!

Now there's a scary thought!!!

They couldn't do any worse than the idiots round here. Although they would be half the cost.

As long as they can still sign their name(on my timesheet) Id be happy

[Churchill]

Goes for most taxation systems. IIRC if they got rid of all tax apart from a flat rate income tax the tax paid would be really quite a lot lower, but there'd be lots and lots of unemployable civil servants let loose on the streets...

Every one of them wanting a job in IT management!!!

Now there's a scary thought!!!

[threaded]

There a lot of people working in Brighton on stamp duty, handling cruddy old paper based reports (in the days when I used to send them from the finance companies I worked for ).

I thought at the time that it must be borderline that the money lost by not collecting stamp duty would be saved by sacking all the people that work on it.

Goes for most taxation systems. IIRC if they got rid of all tax apart from a flat rate income tax the tax paid would be really quite a lot lower, but there'd be lots and lots of unemployable civil servants let loose on the streets...

[Gonzo]

There a lot of people working in Brighton on stamp duty, handling cruddy old paper based reports (in the days when I used to send them from the finance companies I worked for ).

I thought at the time that it must be borderline that the money lost by not collecting stamp duty would be saved by sacking all the people that work on it.

[Sockpuppet]

350K not that much these days

10k on a £350,000 house!

I was only going to pay £1670 on my house and thats half the price!!!

[TheRightStuff]

Serves you right for buying such an expensive house!

350K not that much these days

[Sockpuppet]

It's called fiscal drag a review would mean employing more Civil servants.

Just paid almost 10K on stamp duty, almost 3 weeks wages, I'm fuming...

Serves you right for buying such an expensive house!

[scooterscot]

It's called fiscal drag a review would mean employing more Civil servants.

Just paid almost 10K on stamp duty, almost 3 weeks wages, I'm fuming...

[Diestl]

Is it possible to roll this into mortgage?
It gets quite hefty when its 3%-4% of the total. I wish they would review this tax the thresholds should have been raised by now given the level or house price rises. My new system is

0-200k - 1%
201k-500k-2%
501k-1m - 3%
> 1m - 4%

although it would be like income tax where a house of 300k would pay
1% of 200k = 2k +
2% of 100k = 2k
= 4k.