To ask Her Majesty's Government whether they have any plans to reform Stamp Duty Land Tax.
14 September 2018
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 Autumn Budget 2017, the Government removed Stamp Duty Land Tax for all first-time buyers purchasing properties up to £300,000 with the relief also extending to purchases worth up to £500,000. Since introduction, these changes have benefitted 121,500 households with one million households expected to benefit over the next five years.
The Government keeps all taxes under review as part of the Budget process.