September 16, 2011
Stop The Stupid Tax
The Institute for Fiscal Studies would like to see Stamp Duty scrapped. The Institute describes Stamp Duty as an ‘obviously stupid’ tax and citied it as the reason which prevented people from moving house because of the large bill often associated with the purchase of a new property.
The IFS is calling for the abolishment of as the first part of a wholesale reform of Britain’s current taxation model, which the IFS call ‘a mess’. It’s safe to say that the IFS will receive the support of both estate agents and developers, as the industry has long sought a reform of the tax.
IFS director, Paul Johnson said that there was “little about the UK tax system which looks like it was deliberately designed”.
A Treasury spokesperson said: “The Government has embarked on a programme of ambitious reforms of the tax system to address the instability of recent years.
