37. Mr. Edward Taylorasked the Chancellor of the Exchequer what taxes or other duties are charged on house purchase transactions in the United Kingdom; and what are the comparable tax charges in the countries of the European Economic Community.
§ Mr. Patrick JenkinOn the purchase of a freehold house in the United Kingdom no stamp duty is payable if the consideration is £5,500 or less. Between £5,500 and £7,000 the duty is ½ per cent. and over £7,000 it is 1 per cent. I understand that in the countries of the European Economic Community there are registration or real property transfer taxes charged at various rates and that, except in the Federal Republic of Germany, stamp duty is charged at various rates on the relevant document.