Stamp Duty and free advice in focus

Stamp Duty thresholds and free financial advice have been thrown into the limelight once again with the new government’s final coali-tion agreement.

The agreement draws on pledges from the Conservatives’ and the Liberal Democrats’ election manifestos. It calls for the creation of Britain’s first free national financial advice service, which will be funded in full from a new social responsibility levy on the financial services sector.

The coalition document also hints that further reforms to Stamp Duty could be in store. The government has pledged to review the raising of the Stamp Duty threshold for first-time buyers from £125,000 to £250,000.

Other possible policy reforms include the setting up of a single agency to tackle serious economic crime, the creation of a Post Office Bank, and the inclusion of house prices in the Consumer Prices Index measure of inflation.