Prime Minister Boris Johnson’s proposed Stamp Duty Land Tax (SDLT) cuts could create a £9.8 billion boost to business and tax revenues, Fraser Slater, chief executive of Ludgrove Property, claimed.
Mr Johnson is said to be considering an abolition of SDLT on residential property transactions up to £500,000, reversing former Chancellor George Osborne's 2014 tax rates on more expensive homes and moving the burden of SDLT from the buyer to the seller.
Ludgrove analysed the impact of a reduction in SDLT to see if a cut in tax rates could stimulate economic growth and tax revenue.
Considering various scenarios ...