2006-06-20 08:36:47 · 3 answers · asked by jencowell51 1 in Business & Finance ➔ Renting & Real Estate
It's paid to the Government, normally by the House Buyer's Solicitor.
It's just another example of Taxation in the UK whereby virtually every time money changes hands, the Government takes a slice out of it.
Be it Income Tax, VAT, Corporation Tax, Import Duty, Inheritance Tax, Stamp Duty, or even Insurance Premium Tax, no matter what the money is paying for the government takes a cut from it. It's a bit of a scam really!
2006-06-20 08:46:18 · answer #1 · answered by 'Dr Greene' 7 · 1⤊ 0⤋
The reason is so the Government can get more money! I think the reason is to try and slow/speed up the market. The start used to be £60,000. When most houses were over that price and houses became more & more expensive, the Government made the bracket higher to try and slow the market down and make housing more available.
2006-06-20 15:43:35 · answer #2 · answered by EJ 1 · 0⤊ 0⤋
Its a tax on spending.
Paid by the purchaser to the Inland Revenue.
More info and rates on the Revenue website - www.hmrc.gov.uk
2006-06-20 15:43:46 · answer #3 · answered by Flick W 2 · 0⤊ 0⤋