"The last time the starting point for Stamp Duty was increased was back in 1993, when it was increased from £30,000 to £60,000. Since then house prices have risen by 167%*, and increased by 129* since 1997 when the current tiering system was brought into effect."
"This tax has become one of the Chancellor's biggest stealth taxes and is now hitting hard many first time buyers & other homeowners that it was never targeted at."
*Source: Nationwide quarterly UK house price index.
IHT: 3% rise is good but not good enough.
"Before today's budget we called for an above inflation-linked increase in the IHT starting threshold to at least £500,000."
"Today's increase of 3% to £263,000 is only a gesture. It falls far short of what we feel is needed and means that millions of homeowners are still being thrust over the threshold and face a 40% tax bill simply for owning their own homes."
"This news is worse for Londoners. Four years ago the average London property cost £157,801, compared to £260,658 now*, a rise of 65%. However the IHT threshold has risen by only 14% over this period (from £231,000 to £263,000)."
