1808 CAMPAIGN TO REFORM STAMP DUTY LAND TAX

The ‘1808 campaign’ is a new coalition to reform Stamp Duty Land Tax. Named after the year Stamp Duty was first extended to property sales in Great Britain, we argue that the current system is anachronistic and that the Government should fundamentally reform how it operates.

The 1808 campaign calls for decisive action on stamp duty, which effectively acts as a tax on the aspiration of homeownership.

The 1808 campaign calls on the Government to immediately extend the current stamp duty holiday until the housing market has recovered and embark on a fundamental review which:

re-examines the current thresholds ensuring that the impact on both residential and commercial properties is taken into account, and
modernises the SDLT to move away from the current ‘slab’ structure to create a fairer, more logical system.

Britain needs a more radical and imaginative approach that will assist first-time buyers back into the market and increase transactions vital to the housing market. A revitalised market will provide a needed boost to the construction and building industries and ancillary professions. Reform will also enable the property market to work more efficiently which will benefit all concerned, including those who want to buy.