Homeowners ‘dodging’ stamp duty

These figures, revealed to the FT by Liberal Democrat Treasuryspokesman Mathew Taylor, show that from 1996 to 2001, the number ofproperties being sold for between £240,000 and £249,999 – just below themaximum threshold – climbed dramatically from 2,007 to 15,611.

Taylor is leading a call from the LibDems for an end to stamp duty. Hetold the FT: ‘The evidence is absolutely clear that the ludicrousstructure of stamp duty is creating massive tax evasion.’

Under stamp duty laws properties that are sold for between £250,000 and £500,000 are charged a 3% levy on the sale price.

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