Sir, The Government’s decision to suspend stamp duty for homes under £175,000 (report, Sept 3) is simply not good enough and ignores the fundamental issue that the seller escapes payment of taxation on the profit of their property sale, when they are best placed to find that sum.

As is the norm in the United States, it surely would be wise to have the seller pay stamp duty while the first-time buyer, in particular, is free to concentrate their limited budget on payment of legal costs and mortgage fees, not to mention finding that ever-increasing deposit required by a lender.

Furthermore, without the Government addressing the fundamental problem of mortgage availability, the property market will remain static for years to come.

Steven Reilly

Edinburgh

Sir, Plans to give buyers of lower-priced property a year’s “holiday” from the absurdly named stamp duty shows that officialdom is unfamiliar with the marketplace.

It is higher up the chain that there is a considerable problem. A house in Brighton worth some £330,000 a year ago would now have to be put on sale at £280,000. Nobody would, however, pay that — any prospective purchaser knocks it down to £249,999 toavoid the higher rate of stamp duty.

If there is to be stamp duty, the higher rate should apply only to the proportion of the purchase price that falls within that band. The Treasury might receive less that way but would gain from a new mobility in a market where, as things stand, many people have given up the idea of moving, and so there is less for second or third-time buyers to choose from, and so estate agents, decorators and numerous suppliers lose trade.

Christopher Hawtree

Hove, E Sussex

Sir, The stamp duty holiday is welcome news. The Government says it is “helping” home buyers. A more accurate description would be that it is hindering less.

Whatever words it chooses, the holiday tacitly acknowledges that taxpayers know better than the Government how to spend their money, at least in the particular case of stamp duty.

Norman Paterson

Anstruther, Fife

Sir, Relief from stamp duty will benefit first-time sellers. Gross purchase prices are determined by supply and demand and will not be affected; first-time buyers will pay just the same but more of it will go to the vendor, who will then move further up the housing ladder — leaving would-be purchasers even further behind.

Nick Elsley

London N20

Sir, This measure will not only benefit mostly house buyers outside the South East, it will also release funds sufficient only for furnishings or legal fees, while not diminishing the burden of mortgage repayments.

Russell Cowan

Wormingford, Essex

Sir, Could the Chancellor not impose stamp duty on contracts for the transfer of footballers?

Bryan Johnston

Colchester

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