News Article - 06 August 2008
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Prime minister Gordon Brown is thought to be considering a number of economic measures to help people address their housing situations in the autumn - one of which may be a freeze on stamp duty.

Some £6.5 billion is generated annually through the tax and some say that the most likely short-term change to stamp duty will be a deferral on the one per cent currently charged on properties valued between £125,000 and £250,000 for a set amount of time.

According to the Financial Times, officials have claimed that a temporary suspension of all stamp duty is improbable, but chancellor Alistair Darling is set to announce further measures shortly to assist people with housing in the autumn months.

However, Mr Darling stated that an exact plan - likely to be developed with the use of accounting software - for the announcement is still in development.

Changes to stamp duty legislation made under the 2007 Finance Act included making intermediary relief available to members of a multilateral training facility, regulated market or recognised foreign exchange.

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