" The Chancellor was accused of cashing in on the buoyant housing market on Friday after it emerged the amount the Treasury pockets from residential stamp duty will nearly triple to £14 billion by the end of the decade. AtW's comment: oh FFS, give this chap a break - he is doing his best to reinflate property bubble and deserves to get his cut.
Across the UK the average stamp duty paid by house buyers across will jump from 2.21 per cent of a transaction to 2.88 per cent by 2018-2019.
Experts said tax receipts would "explode" as George Osborne keeps duty thresholds unchanged despite the boom in house prices.
This means that tens of thousands of people will be dragged into paying higher brackets of stamp duty. Currently, anyone buying a house for less than £250,000 pay 1 per cent duty but this rises to 3 per cent above £250,000.
In research for the Daily Telegraph, Grant Thornton, the accountants, said receipts from residential transactions would ballon from £4.9 billion to £13.7 billion - more than tobacco duty and almost five times more than the Government raises through the bank levy. "
Source: Chancellor accused of 'cashing in' by raising stamp duty - Telegraph
Across the UK the average stamp duty paid by house buyers across will jump from 2.21 per cent of a transaction to 2.88 per cent by 2018-2019.
Experts said tax receipts would "explode" as George Osborne keeps duty thresholds unchanged despite the boom in house prices.
This means that tens of thousands of people will be dragged into paying higher brackets of stamp duty. Currently, anyone buying a house for less than £250,000 pay 1 per cent duty but this rises to 3 per cent above £250,000.
In research for the Daily Telegraph, Grant Thornton, the accountants, said receipts from residential transactions would ballon from £4.9 billion to £13.7 billion - more than tobacco duty and almost five times more than the Government raises through the bank levy. "
Source: Chancellor accused of 'cashing in' by raising stamp duty - Telegraph
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