HM Treasury invited interest groups, individuals and representative bodies to comment on government policy and/or suggest new policies for inclusion in the upcoming Budget.
Summary of our suggestions
- Make the retail discount for business rates available to estate agents
- Exempt downsizers from stamp duty or give them incentives to encourage them to “right-size”
- Raise the property value for Stamp Duty Land Tax (SDLT)
- Abolish the three per cent surcharge on additional residential property and review landlord taxes
- Legislate to ensure developers remedy leaseholders with onerous clauses
- Introduce a digital logbook for every property bought and sold