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Stamp Duties: Reform

Question for Treasury

UIN 46827, tabled on 13 May 2020

To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of reforming Stamp Duty.

Answered on

21 May 2020

At Autumn Statement 2014 the Government reformed SDLT on residential properties, cutting the tax for 98 per cent of buyers who pay it, unless they are purchasing additional property. Stamp Duty Land Tax continues to be an important source of government revenue, raising several billion pounds each year to help pay for the essential services the Government provides. Any changes to SDLT would have to be carefully considered given the potential effect on public finances.

The Government does not currently have any plans to change the amount of Stamp Duty Land Tax on property purchases. However, the Government keeps all taxes under review as part of the usual tax policy making process.

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