Changes in the threshold for stamp duty failed to stop the inroads made by the tax, a new study by a leading mortgage lender reveals.
Portman Building Society shows that in the following months after the rise in the exemption threshold from April 2005, British homeowners paid almost £60 million more in stamp duty than in the same period before April. Portman Building Society also advises that even though the government raised the threshold to £120,000, the change made minimal impact at a time of rising house prices, considering that the average property stands close to £200,000 and the typical first-time buyer purchase amounts to £145,000.
Matthew Wyles, group development director at Portman Building Society commented that "Stamp duty is no more View the rest of this article
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