More people have come out in support of the idea that if the government is serious about helping get things going again in the property market then they must make changes to stamp duty.
The British Property Federation believes this is especially important to the large scale investors, perhaps the most necessary investors of all.
Their reasoning for this thinking is fairly sound. A landlord who only purchases one property at a time usually ends up paying 1 percent in stamp duty. A large scale investor who purchases say four properties in a block often ends up paying 4 percent which is a big difference when you are talking about sums of money that are likely to be high.
In what seems a fairly obvious solution the British Property Federation suggests the best idea may be to charge the investor separately for each property that is purchased at a lower rate rather than charging them 4 percent across the board.
Given that the government is on record as saying it wants to be proactive in helping us all recover from this recession this would seem a reasonable reform. It would be likely to help prevent a further decline in buy to let investments and let’s face it things are tough enough in some sections of this business as it is.
