One in four housing transactions will benefit from the doubling of the stamp duty threshold, according to a senior tax partner at Grant Thornton.
But the chancellor’s pre-election sweetener was quickly watered down, as one in 10 households will also be hit by increases in the inheritance tax ceiling.
Mike Warburton said: ‘6% of households are liable for IHT, but from Inland Revenue figures I’ve calculated that of 38% of registered deaths there is still a spouse living meaning they are IHT exempt, so if you exclude them from the calculation around 10% are getting clobbered.’
‘Some 25% of housing transactions could benefit from Stamp Duty but there is a very regional bias on this as London and the southeast will be virtually unaffected’, added Warburton.
Does Darwin's theory apply to taxation? Colin ponders...
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Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements