#uk-tax-policy

#uk-tax-policy

Benedetto Vigna, the chief executive of the carmaker, said that Ferrari had seen a stabilisation in sales after the decision to reduce the number of vehicles it allocated to the UK. Some people are getting out of that country for tax reasons, he told the Financial Times, adding that taxes were not the only reason for the fall in residual values. There are many different factors. Maybe when you sell to the UK, that car cannot be sold somewhere else [because of its right-hand wheel].

Whenever there has been a temporary easing of stamp duty, such as in the immediate aftermath of the Covid lockdowns, house prices have then risen. It is more difficult to judge whether a permanent abolition would have the same long-term impact on prices as the short-term sweetener of a stamp duty holiday. However, greater demand is likely to feed through to asking prices.