AMI calls for fundamental review of Stamp Duty

The Coalition is calling on the Chancellor to immediately extend the current Stamp Duty holiday until the housing market has recovered, and embark on a fundamental review which:

• Re-examines the current thresholds ensuring that the impact on both residential and commercial properties is taken into account, and
• Modernises the Stamp Duty regime to move away from the current ‘slab' structure to create a fairer, more logical system.

Robert Sinclair, AMI Director, said: "It is rare that the breadth of our industry comes together with such consensus on an issue. But the current Stamp Duty regime is distorting the market to such an extent that we feel compelled to speak out. AMI is fully committed to supporting this industry campaign to reform the regime. We implore the Government to not only listen but to act in support of our request for change to this damaging tax.

"This campaign for stamp duty reform is part of a wider Westminster lobbying campaign AMI is undertaking on our members' behalf ahead of the Pre-Budget Report in December."