Stamp duty cut could help

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Permanent stamp duty cut could deliver £139m tax boost Research from the Centre for Economics and Business Research (CEBR) suggests a permanent increase in the stamp duty threshold to £500,000 could reap £139m of extra tax receipts a year. The study, for lender Kensington Mortgages, says such a move would stimulate more transactions and increase house prices. The Chancellor earlier this year announced a stamp duty holiday on house purchases of up to £500,000 until the end of March next year in a bid to boost the sector amid the coronavirus outbreak. Property consultancy Savills estimates that the move resulted in £550m of lost receipts to the Treasury in the quarter to the end of September.

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