Pubs forgotten in stamp-duty plan
The licensed property trade is being cold-shouldered by the Chancellor after he hinted at plans to suspend stamp-duty charges in the residential property sector.
Alistair Darling: Mulling over stamp duty plans
That’s the view of a number of estate agents and trade groups, which say the pub trade is continually ignored.
Kate Nicholls, head of communications at the Association of Licensed Multiple Retailers, said: “The licensed trade is left alone yet again to sink or swim.
“Stamp duty is an extra burden on those looking to get into the market. With the already excessive beer duty that licensees have to pay, it is an extra cost that is putting people off buying.”
Guy Simmonds director Stephen Taylor said suspending stamp duty would ease the buying process.
He said: “A buyer already has to deal with huge legal fees, and, if he is acquiring a leasehold, he also needs to pay at least a month’s rent in advance. The economic climate is increasingly difficult, so a review of stamp duty in the licensed property market would be welcome too.”
Fleurets divisional director Nick Earee agreed that suspending stamp duty would make the process run more smoothly.
He said: “A change would help those looking to buy a freehold pub. Any change that saves the purchaser money would be useful.
“The danger at the moment, with the uncertainty over whether stamp duty will be suspended or not, is that purchases will be put on hold. Even if the focus is on the residential market, it could have knock-on effects in the trade.”
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