Cut stamp duty but raise taxes on landlords, urges think tank

Ministers should cut stamp duty for home buyers by 50% while increasing taxes on buy-to-let property, a leading economic think tank has said. The Resolution Foundation said the Treasury should move to equalise taxes from employment with those of other earnings, while reforming inheritance tax to make it more progressive. It claimed that its overall tax reform strategy would be revenue-neutral but would “support rather than hinder economic growth”. The foundation proposed cancelling the 2025 rise in stamp duty and halving stamp duty rates for main homes and non-residential properties, at a total cost of £5bn. It said this would make it cheaper for people to move jobs and homes while helping firms to grow and move premises. The report also proposed that no tax should paid on gains that are merely in line with inflation. The result would be a net cut in capital gains tax for many. The Times (£)