TaxPersonal TaxBrown tipped for stamp duty change

Brown tipped for stamp duty change

Stamp duty levied when buying shares could be abolished in next week?s pre-Budget statement, according to the Sunday Times.

Investors are currently charged 0.5% tax whenever they purchase shares, but chancellor Gordon Brown may use his address to scrap the charges.

London Stock Exchange chairman believes this costs the average person with a pension around £156 a year.

Among other changes, Brown has been predicted to:

  • Simplify rules on ISAs
  • Scrap savings tax
  • Increase personal allowances
  • Increase council tax on second homes
  • Raise the inheritance tax threshold

More on the pre-Budget statement

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