The Tories have said in their annual conference that they will abolish stamp duty on main homes. The announcement came from leader Kemi Badenoch; but why didn't they do it when in power?

Stamp Duty Land Tax (SDLT) raises over £13Bn annually, so it's a big hole in the revenue if much of this wasn't available. Currently a 2% rate applies to the portion of the property price between £125,001 and £250,000 (£2,500). Above £250,000, the 5% rate applies up to £925,000 (£5,000). For second homes including rental properties, there is no threshold and SDLT applies from the first pound. Applying the £125k threshold to landlords buying properties to rent out would help increase the supply of social housing, and decrease costs for landlords, which are passed onto tenants in higher rents. 

What is more worrying for landlords (and therefore should be for tenants) is that they fear Labour will add or increase yet another tax on rental properties. Any such tax will simply hit tenants in the pocket as it has to be passed on. 

Landlords - can we help you let and/or manage your property?

Image: Wikipedia/By Roger Harris - https://members.parliament.uk/member/4597/portrait, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=165832106