In his first interview as Chancellor, published in The Times on 17 August, Sajid Javid MP confirmed he is considering the Association of Accounting Technicians (AAT) recommendation to switch Stamp Duty liability from property buyer to seller.
AAT has been campaigning for this change for several years, met Prime Minister Boris Johnson to discuss the plans earlier this summer and has already had an exchange of correspondence with the new Chancellor on the idea. The organisation has also engaged with numerous civil servants, special advisers and politicians from across the political divide on the issue.
AAT Head of Public Affairs & Public Policy Phil Hall, said: “AAT is naturally pleased that the Chancellor has publicly acknowledged he is giving serious consideration to our proposals. AAT does not believe switching Stamp Duty liability is a panacea, but it would be considerably fairer, simpler, more effective and cheaper than the current Stamp Duty regime.”