£4.6 billion in lost tax receipts and business revenue since 2014: Why the current stamp duty regime is hurting the UK economy

Views

Notwithstanding the latest move to target foreign buyers, the government's incessant tinkering with high-end property levies has failed to optimise direct and indirect tax revenue, stifled economic activity, and deprived the market of the necessary liquidity and fluidity to function normally, argues Fraser Slater...

Written by

Fraser Slater

CEO at Ludgrove Property

Fraser is the CEO and Founder of Ludgrove. With 25 years experience as a Fund Manager and Property Developer in Chelsea, Fraser started Ludgrove with an ambition to create London's leading property buying agency. ​ Fraser has a flair for spotting undiscovered property opportunities. This combined with his professionalism and expert negotiating skills honed on City trading floors, have won him the trust of some of the worlds' leading businessmen and entrepreneurs. ​ Besides property his passions include cricket, skiing, football, rugby and the stock market. ​ Fraser has lived in Prime Central London for over 20 years.

This content is available only to PrimeResi Members.

If you have a membership login below, otherwise join Prime Resi today for full access to the Journal of Luxury Property.

Main image: London, United Kingdom - colorful houses in Camden Town district.

What to read next

Views

According to buying agency Ludgrove's workings, a 36% reduction in Stamp Duty rates across the board would likely lead to 40% additional transactions in England per annum, in turn generating an extra £1.
Views

It was not unexpected, but the new 2% Stamp Duty surcharge for overseas buyers is not particularly welcome either, say most of our prime residential property industry insiders...
News

Latest statistics from HMRC confirm a massive fall from £12.9bn in 2017/18 to £11.9bn in 2018/19, the biggest decline seen since the financial crisis