Barratt will pay stamp duty and legal costs

August 12, 2008 by OPPE News

A UK home builder is offering up its own stamp duty break in the wake of confusion over the government’s plans for the tax.

Barratt Homes announced it would pay the fee for anyone buying one of the company’s properties following a debate over whether Chancellor Alistair Darling was planning to provide buyers with a ‘holiday’ from the scheme.

Last week Mr Darling did not deny reports his department was thinking of withdrawing the payment for people who purchase new houses.

But the treasury quickly issued a statement saying no such plan was in the pipeline following media speculation.

Barratt Homes sales director Mark Docherty said:

“The newspapers have been full of stories saying the Chancellor may either allow homebuyers to put off paying stamp duty or even let them off paying it altogether. But no official announcement has yet been made and it is possible that nothing will change.

“We don’t want our homebuyers to worry about whether they should buy now or wait to see if the Chancellor makes a change to the rules. That is why we are offering to pay their stamp duty for them.”

In an effort to kick-start flagging sales, the company is also offering to pay the legal fees and moving costs of people looking to buy one of its new properties.

According to the BBC, a poll by the National Association of Estate Agents has found 24 per cent of more than 1,000 of its members think sales have been hit by the recent uncertainty surrounding stamp duty.