Tax changes do not please FTBs

British homeowners and first time buyers (FTBs) are unhappy with the recent tax changes announced in the pre-budget report.

That is according to a HotProperty survey, which revealed that many people were unhappy with the changes announced to inheritance tax and a lack of action on stamp duty.

A total of 85 per cent of those questioned said that they believe the stamp duty threshold should be raised in order to help FTBs onto the property ladder.

In addition, one third said that the government's pledge to increase the threshold for stamp duty to £600,000 would not affect them at all.

"The 2007 pre-budget report was disappointing for the property industry and for UK home-buyers, as our poll shows. The increase to the inheritance tax threshold was a positive step, but with house prices that have risen steadily for a decade, it was never going to deliver the relief taxpayers were looking for," said Shawn Luetchens from HotProperty.

"What's more, stamp duty reforms were much anticipated and are still strongly backed by buyers.

"Eighty five percent of people want the threshold increased – even a small rise would have been a helping hand for first time buyers who are at the lowest in a decade," he continued.

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