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Richest UK homebuyers to face big tax rise; others to get relief
Revamped system replaces stamp duty organised in rigid brackets in favour of increases like income tax
Add BT as a preferred sourcePublished Thu, Dec 4, 2014 · 09:50 PM
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London
BRITAIN'S wealthiest homebuyers face a jump in transaction tax while almost everyone else will pay less after Chancellor of the Exchequer George Osborne revamped a system that he says punishes low and middle-income families.
The average UK homebuyer will save £4,500 (S$9,270) on a new home and 98 per cent will pay less under a revised system of levies known as stamp duty, the chancellor said.
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