Cordelia Smith Comments On The Complexities Behind Stamp Duty Reform In IFA Magazine

Cordelia's comments were published in IFA Magazine, 27 October 2025, and can be seen here.

Cordelia Smith, Associate in our Residential Property department, comments on the debate around abolishing Stamp Duty Land Tax (SDLT) and why it's not a straightforward solution.

Cordelia explains that SDLT significantly influences affordability and buying decisions, often delaying or preventing property purchases. While politicians have suggested scrapping SDLT to ease housing pressures, Cordelia argues that the issue is far more complex than headlines suggest.

The current SDLT system disproportionately impacts buyers in high-cost areas like London and the South East. Its tiered structure means properties in these regions attract much higher tax liabilities, creating a barrier for financially stretched buyers. Combined with rising mortgage rates, this often forces people to abandon plans to move, highlighting the uneven effect of SDLT across the UK.

Cordelia also warns of unintended consequences from abolishing SDLT, citing the post-lockdown SDLT holiday that inflated property prices. Well-off buyers used the tax savings to increase offers, fueling a market bubble that still affects pricing today. Any reform must avoid repeating this mistake while ensuring first-time buyers in expensive areas receive targeted support.

Ultimately, Cordelia concludes that SDLT reform requires careful, nuanced planning and cross-party consensus. A fairer, more flexible system is needed one that helps those most affected without artificially inflating the market. While tax cuts make headlines, meaningful change will demand a balanced approach that considers regional disparities and long-term affordability.

Read the full article on the IFA Magazine website [external link].

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.