This September, the Organisation for Economic Co-operation and Development (OECD) suggested SDLT should be scrapped to encourage more mobility in the jobs market and remove disincentives for potential downsizers, while a report from the government’s innovation agency Nesta proposed getting rid of both SDTL and Council Tax, and replacing them with some kind of system that primarily taxes a property based on the value of the land it occupies.
Scrapping stamp duty — an interesting and expensive idea
Kate Davies, IMLA
This article was originally published in
Mortgage Strategy as “A ‘land value tax’? Not so fast” in October 2024.