BusinessCompany NewsBudget 05: One in four benefit from stamp duty

Budget 05: One in four benefit from stamp duty

Stamp duty changes benefit house buyers.

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.

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