Reform party promises Stamp Duty cuts as it surges in polls
Reform UK, led by Richard Tice, would cut Stamp Duty rates and scrap inheritance tax on estates worth less than £2 million.
Reform UK is promising Stamp Duty cuts as the party hits its highest ever point in the opinion polls.
The right wing alternative to the Tories, that was formerly known as the Brexit Party, is attracting 13% of voters according to the latest YouGov opinion poll, the Daily Telegraph reports.
Major factor
With a General Election expected later this year, Reform’s presence as the third most popular party, ahead of the Liberal Democrats, will be a major factor.
Reform led by Richard Tice (main picture) and supported by Nigel Farage, is pledging to reduce stamp duty and abolish inheritance tax on estates worth less than £2 million.
Duty to cut
On Stamp Duty, Reform says in its manifesto the tax should be set at 0% below £750,000, 2% on £750,000–£1.5 million, and 4% above that level.
Currently, the Stamp Duty rates are 0% below £250,000, 5% up to £925,000, and 10% up to £1.5 million, with the top rate set at 12%.
It would scrap inheritance tax for all estates under £2 million, which is 98% of all estates, and charge 20% tax above £2 million.
Defect
A year ago, Reform was only half as popular, with around 6 per cent of voters giving their backing.
With the Conservatives only polling around 20%, Tice urged Tory MPs to defect to his party. YouGov report Labour on 47%, 27 points ahead of the Tories, and the Liberal Democrats on 8%.
Picture: BBC
