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Monday, February 11, 2013

Boris calls for stamp duty to be kept in London

Boris Johnson is calling for the government to allow him to keep  hold of all the stamp duty taken from the London's property sales. The figure is roughly £1.3billion a year. The Mayor of London is pledging to use the money to build a million homes in the city  by the mid 2030s.

Boris outlined his idea in a speech made to the Chartered Institute of Housing, saying that London needs to be allowed to take control of it's housing crisis.

The London Mayor argues that as the majority of Londoners are paying at least 3% stamp duty the new  levy on property costing over £2million focused largely on central London, it is becoming a London focused tax that should be retained for the benefit of Londoners.

Scotland is set to retain its Stamp Duty receipts from 2015 and Wales is likely to follow suit. 

Landlords unoccupied property insurance for houses pending sale or let

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