CPS report “The Shrinking Case for a Mansion Tax” was the subject of a Daily Telegraph article, Wednesday 18 February 2015.
To view the full article, visit the Daily Telegraph website.
“The Centre for Policy Studies said that 18,000 households pay 45 per cent of the stamp duty total due to recent reforms, increasing the tax burden on high value properties from £700 million in 2013 to £1.8 billion in 2015.
The think tank said an increase in the rate of the enveloped dwellings tax had also added £100 million a year to the tax paid by high value properties.
The research found the tax paid on a house sold in south-west London for £2.5 million has increased by 405% since 2009.
According to an analysis by Savills, the estate agents, a property bought for £1.75 million in 2009 generated £70,000 in stamp duty when it was sold.”
To view the full article, visit the Daily Telegraph website.
Date Added: Wednesday 18th February 2015
