RARE ALERT: HM Treasury said to be weighing major changes to property tax; may even abolish stamp duty - part 4

Wednesday, 23 November 2016, 2:54 pm

Today's Autumn statement from Philip Hammond confirms my Tory banker chums were bang on the money about the Chancellor of the Exchequer's move to keep the current stamp duty regime in place.

In case you don't recall, I first revealed there was some RARE doing the rounds in the City in late Summer - https://www.betaville.co.uk/news/rare-alert-hm-treasury-said-to-be-weighing-major-changes-to-property-tax-may-even-abolish-stamp-duty/ - about Philip Hammond introducing some major changes to property taxes in the UK.

However, after the Tory party conference at the beginning of Autumn corporate financiers got in touch to let me know Philip Hammond had decided against making changes to stamp duty. Here is a link to that piece:

https://www.betaville.co.uk/news/hm-said-to-be-weighing-major-changes-to-property-taxes-may-even-abolish-stamp-duty-part-2/

Since then, though, my erstwhile employer The Daily Telegraph has launched a campaign to convince Mr Hammond to change or even abolish stamp duty. Here is the link:

http://www.telegraph.co.uk/news/2016/11/14/stamp-duty-reforms-are-damaging-property-market-and-cutting-tax/#sthash.p9rToGYE.dpuf

It looks like the Torygraph will have to keep banging that drum!

..

[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

Post Comment