Stamp Duty Land Tax should be abolished on all but the most expensive tenth of homes, a new report argues. The suggestion was made in the paper ‘Reforming Stamp Duty: New ideas to promote home ownership’ by Chris Philp MP, former PPS to the Treasury and Guy Miscampbell, Senior Research Fellow at Onward, published by Onward today. In the report, Mr Philp and Mr Miscampbell set out proposals to take homes worth £500,000 or less out of Stamp Duty Land Tax altogether. It would see the removal of the tax entirely from 770,000 primary house purchases each year.
