Rejected petition Permanently raise the Stamp Duty threshold to £500k for residential purchases

Newly released research has highlighted how many homebuyers could benefit each year should the government permanently increase the tax thresholds. The current stamp duty holiday has helped boost demand amongst homebuyers.

The archaic tax should be revised as it encourages owners to stay put.

More details

A permanent extension of stamp duty threshold could provide a fiscal surplus of £139m per year, generated by higher consumption and increased housing market activity, according to Kensington Mortgages.

Kensington's analysis shows that higher property values could lead to SDLT, LBTT, and LTT receipts generating £256 million in additional revenues each year. Combined, higher property values and transaction numbers could generate £523 million of annual revenues to the Treasury.

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

You may wish to sign this petition calling for the same action: https://petition.parliament.uk/petitions/566462

We only reject petitions that don’t meet the petition standards.

Date submitted 17 April 2021
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