A coalition of housing organisations has called for abolition of stamp duty tax.

The '1808 coalition', named after the year of the levy’s introduction, says the tax distorts the UK’s property market.

The initiative comes as housing trade groups raise pressure on the government to extend the stamp duty holiday for properties worth less than £175,000, which will expire at the end of the year. Many hope that the government will extend the scheme, as it did with the car scrappage initiative.

According to the group, nine in 10 estate agents feel it should be extended, while 86 per cent feel the tax is unfair. A further 81% believe a reform of stamp duty would have a positive effect on the market.

Financial Times