Praise Swinney
In the first place, he removed the ludicrous system of bands, where the entire transaction was subject to the one rate of tax, creating so-called “steps” which forced individuals to keep prices below the cut-off point at which the tax rose significantly. This innovation has been copied by George Osborne and is now a feature of stamp duty.
The second point on which Mr Swinney has to be congratulated is the fine-tuning of the rates once the revised arrangements for stamp duty had been announced.
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Hide AdMr Osborne introduced stamp duty with an extra tier, and Mr Swinney has copied that innovation.
I would congratulate both for having put in place a much fairer tax on the purchase of property.
Sandy Gemmill
Warriston Gardens
Edinburgh