Asked by: Heidi Allen (Liberal Democrat - South Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will take steps to make stamp duty payable on the portion of a property that each person owns according to their tax status in the next Budget.
Answered by Mel Stride - Secretary of State for Work and Pensions
The Government reformed Stamp Duty Land Tax on residential properties at Autumn Statement 2014, cutting the tax for 98% of people who pay it, unless they are purchasing additional property.
The Government’s priority is to support first-time buyers. At the 2017 Autumn Budget, the Government removed SDLT for all first-time buyers purchasing properties up to £300,000, with the relief also extending to purchases worth up to £500,000. These changes will help over one million households over the next 5 years.
Asked by: Heidi Allen (Liberal Democrat - South Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will take steps to make stamp duty payable on the portion of a property that each person owns according to their tax status in the next Budget.
Answered by Mel Stride - Secretary of State for Work and Pensions
The Government reformed Stamp Duty Land Tax on residential properties at Autumn Statement 2014, cutting the tax for 98% of people who pay it, unless they are purchasing additional property.
The Government’s priority is to support first-time buyers. At the 2017 Autumn Budget, the Government removed SDLT for all first-time buyers purchasing properties up to £300,000, with the relief also extending to purchases worth up to £500,000. These changes will help over one million households over the next 5 years.