Property a taxing matter for the Chancellor

Carol Lewis in the Times considers Sajid Javid’s options in regard to property tax after the Chancellor told the paper he is “a low-tax guy” who also called for "bold measures" to stimulate the housing market. She notes that Prime Minister Boris Johnson has met the Association of Accounting Technicians to discuss the idea of sellers, rather than buyers, paying stamp duty - but highlights criticism of such a measure. She also says scrapping stamp duty for downsizers could be an option, as could relief for first-time buyers or pushing ahead with the Prime Minister’s suggestion of raising the stamp-duty threshold to £500,000 and reducing the highest rate of tax from 12% to 7%.

The Times (23/08/2019)