Business · 11 July 2026
Andy Burnham plans to replace stamp duty with new property tax
Andy Burnham, expected to become Prime Minister this month, has long supported replacing stamp duty and council tax with a proportional property levy. A new annual charge would be based on a property's current value, rather than outdated 1991 assessments. The Fairer Share campaign, which Burnham backs, suggests a 0.48% annual charge on a home's value, meaning a £250,000 property would incur a yearly cost of about £1,200.
Reported by Mortgage Introducer · How we write briefs