Stamp duty concerns raised

News Category: Management

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Good property management will always involve considering stamp duty implications, but one industry expert suggests that the current property tax system "seems illogical".

The editor of Property Investor News (Pin) magazine, Richard Bowser, claims the present structure disadvantages landlords who want to buy bricks and mortar in bulk.

His comments come on the back of an announcement by the British Property Federation (BPF), which called on the government to allow investors to pay stamp duty on individual homes when buying more than one home.

Chancellor Alistair Darling will consider the proposals ahead of the Budget speech on April 22nd.

Mr Bowser said: "I'm slightly sceptical [the BPF] is flying a kite but hopefully there is enough wind behind it so that it actually gets pushed through."

Landlords and other investors should be able to buy homes at a tax level that is appropriate for that individual property, he explained.

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