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Posted on March 16th 2015 by admin-movingin

Brits are paying ‘highest property taxes in the world’

Politicians should give Britain’s home owners a break from the highest levels of property tax in the world.

The call has come from Nick Leeming, chairman of Jackson-Stops & Staff.

Leeming said: “Britain’s home owners pay more than France, the US and Germany. The latest figures show that, at 3.9% of GDP, UK property is the most highly taxed in the developed world.

“We are taxed at every turn, from transactional taxes such as Stamp Duty and Capital Gains Tax, annual taxes such as council tax and indirect taxes such as green energy levies.

“Instead of debating the merits of a mansion tax, our politicians should be considering a reduction in property tax.

“Labour’s mansion tax proposals are blatantly targeted at a sector where they have few votes at risk.

“The best outcome from the election for the property markets would be to see a reduction in the overall property tax burden, greater liquidity by rationalising transactional charges, increased supply by encouraging new housing starts and maintaining  a vibrant lettings sector without government intervention.

“The UK property sector needs the freedom to develop without undue taxation and regulation, but the need to reduce the national debt will make political parties reluctant to address this problem in the near future.”