Brendan Burgess
Founder
- Messages
- 52,300
One of the reasons we had no rates/household charges was because we had very high stamp duty - up to 9% of the value of the property at one stage.
I think it's much better to have lower stamp duty and an annual household charge.
But how do you make it fair for those people who have paid huge stamp duty in recent years?
Give them an exemption for ten years?
Give them a credit against future household charges?
And given that the high stamp duty coincided with very high property prices, they have also faced huge falls in the value of their home.
OK, most people who paid high stamp duty, probably are on a very cheap tracker, so they can afford to pay a high household charge.
And people who bought at the peak have got additional mortgage interest relief.
How far back do you go? Back to 2004? Back to 2000?
It's a tough one.
I think it's much better to have lower stamp duty and an annual household charge.
But how do you make it fair for those people who have paid huge stamp duty in recent years?
Give them an exemption for ten years?
Give them a credit against future household charges?
And given that the high stamp duty coincided with very high property prices, they have also faced huge falls in the value of their home.
OK, most people who paid high stamp duty, probably are on a very cheap tracker, so they can afford to pay a high household charge.
And people who bought at the peak have got additional mortgage interest relief.
How far back do you go? Back to 2004? Back to 2000?
It's a tough one.