Kirstie Allsopp urges action on impending stamp duty changes

Kirstie Allsopp has shared her thoughts on the upcoming Spring Statement from Labour Chancellor Rachel Reeves. She is particularly concerned about rising stamp duty taxes that may affect many British home buyers. Allsopp highlighted the challenges first-time buyers face as the tax thresholds change on April 1. Currently, buyers do not pay stamp duty on homes worth less than £250,000, but this will drop to £125,000. For first-time buyers, the threshold will also decrease from £425,000 to £300,000. These changes could mean that families owe thousands more in taxes when they try to purchase new homes. In a recent tweet, Allsopp spoke about a young family facing a staggering stamp duty bill of £18,750 after selling their first home. She expressed that this tax is preventing people from moving up the property ladder. The current rules were introduced during a mini-Budget in September 2022. Reactions to Allsopp's comments have been mixed. Some users pointed out that stamp duty existed before Reeves took office, while others argued that housing should not be treated as an investment. Allsopp defended her position, stating that she has consistently critiqued high stamp duty over the years. While the Spring Statement is not expected to cause major changes, observers are curious if Chancellor Reeves will propose new measures to strengthen the economy. The situation around stamp duty continues to be a topic of debate among homeowners and experts alike.